Elizabeth Warren
Senator for Massachusetts · Democratic · United States
“Unless we reverse course quickly, many economists believe that a recession is inevitable. And like in all recessions, the pain will fall hardest on working families. Many Americans will face the one-two punch of job losses on top of overwhelming debt burdens. A cascade of defaults and foreclosures and personal bankruptcies could follow.”
“But this time, it will be the President of the United States who destroyed our economy, and it will be congressional Republicans who helped him do it because they didn't have the spine to stand up to Donald Trump. So I say to my Republican colleagues: Let's get this done. You have a choice.”
“Mr. President, President Trump took a strong American economy and broke it in less than 100 days. Right now, Republican Senators are at a crossroads. Will they vote to stop Trump's chaotic tariffs and save our economy, or will they continue bending the knee to Donald Trump? That is the vote that we are forcing tonight.”
“So let's take a step back and talk about what has happened since Trump started this trade war. The stock market took the biggest plunge since the early days of the pandemic, sinking millions of Americans' retirement accounts. Businesses have begun hiking prices and laying off workers.”
“No one else is coming to save us. We are the ones who have to act. If Republicans care about the American people, they will vote yes on our resolution today and turn off the fake emergency that Donald Trump is using to impose his on-again, off-again red-light, green-light tariffs--the tariffs that are pushing our economy off a cliff.”
“71, hosted dozens of foreign Federal and State officials at Mar- a-Lago, helping enrich Trump. No. 72, hosted a GOP retreat at another one of Trump's resorts, for which Trump's resorts get paid. No. 73, circumvented the normal contracting process to pick a company with close ties to Trump's former campaign manager. No.”
The complete record
Every one of 114 lines we hold for Elizabeth Warren, in date order, each linked to its source. Free to read, in full, without an account. Page 1 of 3.
“But this time, it will be the President of the United States who destroyed our economy, and it will be congressional Republicans who helped him do it because they didn't have the spine to stand up to Donald Trump. So I say to my Republican colleagues: Let's get this done. You have a choice. You can either continue to enable Donald Trump's tariff chaos, or you could actually stand up for our constituents. It is truly that simple. The chaos and corruption of Trump's first 100 days can be curbed. The President is no King, and he only has as much power as Congress is willing to let him keep. It is time for us--Democrats, Republicans, and Independents--to step up and head off a crisis before millions more American families are hurt. We have the power. We just need the courage to use it. I yield the floor. The PRESIDING OFFICER.”
“No one else is coming to save us. We are the ones who have to act. If Republicans care about the American people, they will vote yes on our resolution today and turn off the fake emergency that Donald Trump is using to impose his on-again, off-again red-light, green-light tariffs--the tariffs that are pushing our economy off a cliff. Let me repeat: Congress can end this economic threat today. All we need are some Republican Senators to join us to vote down the President's abuse of emergency authorities. Unless we take action now, millions of people will lose their jobs, families will be destroyed, and our economy will take years to recover.”
“Unless we reverse course quickly, many economists believe that a recession is inevitable. And like in all recessions, the pain will fall hardest on working families. Many Americans will face the one-two punch of job losses on top of overwhelming debt burdens. A cascade of defaults and foreclosures and personal bankruptcies could follow. With so many indications that American families are in serious trouble, our government should be throwing them a lifeline. Instead, President Trump is throwing them an anchor, while he carves out exceptions for a few well-connected billionaires who have bent the knee. This is the moment for Congress to step up. And where are the Senate Republicans? Watching? Waiting? Hoping it doesn't get worse? Hoping that maybe somebody else will step up? Well, I am here to say: It is up to us in the U.S. Senate.”
“So let's take a step back and talk about what has happened since Trump started this trade war. The stock market took the biggest plunge since the early days of the pandemic, sinking millions of Americans' retirement accounts. Businesses have begun hiking prices and laying off workers. Americans are worried that they won't be able to survive a cratering economy. And, just today, Americans woke up to the news that Donald Trump single-handedly shrunk our economy in 3 months and raised the cost of their groceries. The warning lights are all flashing red. We have seen this before, but this time our economy is teetering on the edge not because of a mortgage meltdown or a one-in-a-century virus but because of one man alone: the President of the United States.”
“Mr. President, President Trump took a strong American economy and broke it in less than 100 days. Right now, Republican Senators are at a crossroads. Will they vote to stop Trump's chaotic tariffs and save our economy, or will they continue bending the knee to Donald Trump? That is the vote that we are forcing tonight. When he ran for office, Donald Trump promised, over and over and over, that he would lower costs on day one. Those were his words: Lower costs on day one. In fact, he said after he was elected that it was one of the main reasons that he won. But as soon as the election was over, he ignored that promise. Instead of working to lower costs on day one, he has decided to start the dumbest trade war in U.S. history, which is already increasing costs for American households and damaging our economy.”
“I appreciate the question. I want to say here that I have never seen, anytime in American history, this level of corruption over 8 years in the White House, much less in just 100 days. This level of corruption is everywhere, all the time, and it truly undermines the ability of our country to function. It undermines our economy. It undermines our position in the world. It undermines the economic stability of our families. And it undermines our entire democracy. I thank the Senator for the question.”
“97, fired the head of the Office of Government Ethics, who watches to see that the President and his administration follow the laws on conflicts of interest, bribery, and other ethical issues. The guy is gone. No. 98, fired DOJ prosecutors who worked on the January 6 investigations. No. 99, sidelined DOJ's office that reviews the legality of Executive orders. And No. 100, gutted DOJ's office that prosecutes misconduct by public officials. That is 100 corrupt acts in 100 days. Americans deserve accountability. We need to fight back--all of us. I yield the floor. The PRESIDING OFFICER. The Senator from Oregon.”
“92, permitted the Social Security Administration to share important public communication only on X. No. 93, dropped the Department of Justice's anti-discrimination complaint against Musk's SpaceX. No. 94, fired FDA staffers reviewing Elon Musk's Neuralink clinical trial applications--a lot of benefits for Elon Musk there. And for our closing six moves that make every bit of this corruption even harder to root out, Trump got rid of the cops on the beat. No. 95, fired 18 inspectors general who make sure that Federal Agencies follow the law. No. 96, fired the head of the Office of Special Counsel, who protects whistleblowers and makes sure that civil service laws are followed. No.”
“And, by the way, I have a new bill to fix that one in particular. No. 87, allowed Musk's Starlink to start working with the FAA after Musk criticized the FAA's air traffic telecom system. No. 88, made Musk's SpaceX the frontrunner for a new, lucrative Golden Dome contract. No. 89, stood by Musk when his X executives told an advertising firm to increase ad revenue, threatening that Musk could interfere with their pending merger if they didn't play along. No. 90, permitted Musk to join Trump's interview with the Air Force Secretary nominee while SpaceX held billions of dollars in contracts with the Air Force. No. 91, permitted the National Transportation Safety Board to share news related to the airplane crashes in Washington and Philadelphia only on Musk-owned X. No.”
“Well, he fired EEOC leaders that were investigating and suing Tesla. He illegally fired the NLRB Chair, which had filed a complaint against SpaceX, one of Musk's companies. He gutted the CFPB staff and fired the Director after they investigated complaints against Musk's companies. He gutted the Department of Labor office investigating Tesla and SpaceX and fired the USAID inspector general who launched a probe into satellite terminals made by Musk's Starlink. No. 83, targeted the National Highway Traffic Safety Administration staff who were reportedly ``a thorn in Tesla's side.'' That is enough to fire them. No. 84, said Musk would self-police his conflicts of interest--yeah, right. No. 85, pressured the Administrator of the FAA, which fined Musk's SpaceX, to resign. And No. 86, permitted Musk to keep his financial disclosure hidden.”
“71, hosted dozens of foreign Federal and State officials at Mar- a-Lago, helping enrich Trump. No. 72, hosted a GOP retreat at another one of Trump's resorts, for which Trump's resorts get paid. No. 73, circumvented the normal contracting process to pick a company with close ties to Trump's former campaign manager. No. 74, awarded a $30 million ICE contract to Trump insider Peter Thiel. No. 75, continued developing new Trump properties overseas, including in Saudi Arabia and the UAE. No. 76, hatched a plan for the State Department to pay Tesla $400 million. No. 77, accepted a $4 million inauguration donation from a GOP megadonor and then nominated him as UK Ambassador on the same day. Did anyone miss the message here? And Donald Trump took actions so that he could advance the personal interests of his ``co-President,'' Elon Musk. How?”
“66, appointed an FBI Director who consulted for the Qatari Government. No. 67, picked that FBI Director, even though he also received millions of dollars from a Cayman Island holding company with ties to China. No. 68, decided to cancel the Direct File Program. The cancellation of this program that lets taxpayers file their taxes online for free will help the bottom line of Intuit, which charges people for filing their taxes and that gave $1 million to Trump's inauguration. No. 69, took its largest inauguration donation from a poultry company that was under DOJ's scrutiny. After the donation, the SEC approved its parent company for the New York Stock Exchange. No. 70, dropped a probe into sexual misconduct allegations against Trump's Education Secretary's husband. No.”
“60, met with crypto executives who are asking Treasury to back off of oversight of their companies, all while simultaneously exploring a deal to list a Trump-linked crypto company's new stablecoin. No. 61, maintain financial ties between Trump officials and Trump's media company that includes FBI Director Kash Patel, who was given a huge award of Trump media company stock. No. 62, nominated Attorney General Bondi, who owned $2 million in DJT shares. No. 63, paid the Education Secretary almost $1 million in Trump media company shares. No. 64, nominated Intelligence Board nominees who have millions in Trump media company shares. No. 65, selected a special envoy to the Middle East who wants to develop real estate in Gaza while running his own real estate firm while he is Special Envoy to the Middle East. No.”
“52, pardoned January 6 insurrectionists who tried to overturn an election that Trump lost. No. 53, pardoned a Trump loyalist found guilty of wire fraud. No. 54, pardoned the son of a longtime Republican donor. No. 55, pardoned a corporation that had been fined $100 million for money laundering. No. 56, watched his own stablecoin while preparing to sign legislation that will help stablecoin and let Donald Trump oversee it. No. 57, sold merch with Presidential branding. No. 58, disbanded DOJ's crypto unit after business talks between Binance and a Trump-backed crypto company ramped up. [[Page S2648]] No. 59, halted SEC enforcement actions against crypto companies that enriched Trump personally. No.”
“46, installed Steve Davis to effectively lead DOGE, while also leading another Musk company. No. 47, installed another DOGE leader to control Treasury's payment system, while still holding down his day job, oh, as a software CEO. No. 48, handed the power over crypto policy to a White House crypto czar, who leads a venture capital firm that heavily invests in crypto. No. 49, selected a border czar, who led a firm that got tens of millions of dollars of Federal contracts for Homeland Security companies. No. 50, appointed Treasury Secretary Bessent, who is gutting the IRS so that it can't audit rich tax cheats because he himself is a tax- dodging megamillionaire. No. 51, pardoned Rod Blagojevich, the former Illinois Governor convicted for corruption after his vocal support for Trump. No.”
“40, nominated as IRS head Billy Long, an aggressive salesman for a fraud-riddled tax credit who received donations after being nominated so he could clear out old campaign debts. No. 41, tapped Paul Atkins, a former crypto lobbyist, to lead the SEC that will regulate crypto. No. 42, appointed a former tax lobbyist to lead tax policy. No. 43, appointed Robert F. Kennedy, Jr., who planned to get paid for anti-vax lawsuits while he was heading up HHS and could affect the outcome of exactly those same lawsuits. No. 44, appointed a top Pentagon official who led a firm investing in defense contractors and has directed DOD to outsource as much as possible to defense contractors. No. 45, appointed someone who lobbied to privatize Medicare to lead OMB's healthcare budget. No.”
“35, appointed Marty Makary, the former executive of a company selling weight-loss drugs, to lead the FDA, which would be the Agency that would regulate his company. No. 36, appointed Sean Duffy, who lobbied for the airline industry, to be the Transportation Secretary to regulate the airline industry. No. 37, tapped Pete Hegseth, whose wife owns stock in large defense contractors, to lead the Defense Department and help hand out those defense contracts. No. 38, tapped Doug Burgum, who made money from leasing land to Big Oil, to lead the Interior Department and manage the leasing to oil companies. No. 39, nominated a Big Oil lobbyist to run the Bureau of Ocean Energy Management. No.”
“30, appointed Mehmet Oz, who had close ties to Medicare Advantage insurers--in fact, sold it on TV--to lead CMS to set payment rates and otherwise help out whom? Medicare Advantage insurers. No. 31, appointed John Phelan, a major donor with no military or government experience, to lead the Navy and hand out Navy construction contracts. No. 32, appointed Pam Bondi, a former lobbyist for a Federal detention contractor, to lead the DOJ. No. 33, announced that the DOJ would stop prioritizing enforcement of restrictions on foreign lobbyists under the leadership of Bondi, who herself is a former foreign lobbyist for Qatar. No. 34, appointed Howard Lutnick, who has billions invested in companies accused of illegally facilitating crypto money laundering, as the guy to lead the Commerce Department. No.”
“22, tried to get the AP to bend the knee and kicked them out of the White House briefing room when they refused to bend the knee. No. 23, hired Defense Secretary Hegseth's younger brother to serve in a key role. No. 24, hired a longtime former partner of Don, Jr., to serve as Ambassador to Greece. No. 25, nominated Jared Kushner's father to serve as Ambassador to France. No. 26, selected Tiffany Trump's father-in-law to serve as an adviser. No. 27, appointed an oil and gas executive to lead the Department of Energy. No. 28, selected a Chief of Staff who was a big-time lobbyist for clients like tobacco and mining companies. No. 29, named officials who had recently lobbied for oil and chemical giants to help write EPA rules. What could possibly go wrong? No.”
“16, accepted $40 million for First Lady Melania's documentary from Jeff Bezos--way above the market rate. No. 17, pointed to Bezos's multimillion-dollar documentary payment as a model when Warner Bros. asked Trump's team how to improve its own relationship with the White House. No. 18, struck a deal with Amazon to stream Trump's old show, ``The Apprentice,'' which will mean more money for Trump, as Amazon is seeking tax breaks and other Federal benefits. No. 19, coercing law firms to offer almost $1 billion in free legal work in an arrangement that experts say could run afoul of anti-bribery laws. No. 20, started undermining Medicare's ability to negotiate drug prices after Big Pharma gave millions to Trump's inauguration. No. 21, filed a meritless lawsuit against ``60 Minutes'' and launched a baseless FCC investigation. No.”
“9, launched crypto meme coin right before the inauguration to make millions of dollars, then increased the value of those coins by signing Executive orders, making crypto a priority. No. 10, launched a meme coin for Melania too. No. 11, promised his ``rich-as-hell'' donors a giant tax handout and is working hard to deliver. No. 12, weakened rules insulating government workers from politics. No. 13, limited corporate foreign bribery investigations. No. 14, halted enforcement of the Corporate Transparency Act-- wouldn't want people to know what is going on. No. 15, offered a private dinner with Trump himself and a special tour of the White House for the top 220 holders of his meme coin, permitting Trump and his family to profit both from the runup in the value of the coin and the increase in trading on the Trump platform. No.”
“2, fired independent Commissioners at the Federal Trade Commission. No. 3, punished former officials who opposed his 2020 election lies. No. 4, paid for the White House Easter Egg Roll by soliciting corporate sponsors who have business pending before the government. No. 5, helped Trump's son set up a club--pay $500,000 for access to Trump's Cabinet. No. 6, declared that there would be no tariff exceptions, then permitted Apple's CEO behind-the-scenes access, and, poof, iPhone tariffs were cut. No. 7, created an opening for insider trading by reportedly giving Wall Street exclusive information about how trade talks were going. No. 8, hosted million-dollar dinners between Big Pharma CEOs and their regulator, R.F.K., Jr. No.”
“Mr. President, I want to say how much I appreciate the remarks of Senator Alsobrooks. It is an honor to fight alongside you. So here we are--100 days, 100 acts of corruption. Today, I am reading into the Congressional Record 100 reports of corruption from Donald Trump's first 100 days in office. Now, when he ran for office, Trump promised repeatedly--repeatedly-- that he would lower costs ``on day one.'' But instead of following through on his promise, Trump and his Trump administration have paved the way for the President, his top officials, and his billionaire buddies to personally feed at the trough of government corruption. So count with me. In just 100 days, Donald Trump, his family, and his administration have: No. 1, turned the White House into a Tesla dealership. No.”
“Mr. President, I suggest the absence of a quorum. The PRESIDING OFFICER. The clerk will call the roll. The bill clerk proceeded to call the roll.”
“Donald Trump's friends at Mar-a-Lago may flatter him over candlelit dinners and tell him he is all powerful, but Donald Trump is not a King, and Congress is not powerless. We can act to stop him, and that is exactly what we should do. I yield the floor. The PRESIDING OFFICER (Mr. Justice). The Senator from Massachusetts.”
“If Trump's tariff games force small businesses to close their doors, we know which Republicans will be responsible. If Trump's tariff games hurt our farmers, we know which Republicans will be responsible. If Trump's tariff games force retirees to have to get out and find work, we know which Republicans will be responsible. We know who is responsible, and it is every single one of these cowards who will not take the blowtorch out of Donald Trump's hands. These Republican Senators understand that what is happening is not normal. They understand that we are in an extremely dangerous moment. They understand that if Congress does not act, Americans of every class, every race, every age, every religion, every region of the country, and every political party will suffer. This is the time for Republicans to act.”
“I urge my Republican colleagues to join us and to vote down the President's abuse of emergency authorities. Republicans in Congress have a choice to make. They can continue to bow down to Donald Trump while he sabotages our economy, or they can stand up for the American people who elected them. Every Democrat is ready to go. We are ready to vote to end this destructive tariff war, but we need Republicans to stand up and show some courage. If Republicans don't step up and our economy falls off a cliff, we will know who is responsible. If Trump's tariff games of ``on-again, off-again'' crash our economy, we know which Republicans will be responsible. If Trump's tariff games lead to layoffs around the country, we know which Republicans will be responsible.”
“Who knows how much irreversible damage will be done to our economy in a month or in 90 days when Trump decides to put these tariffs back on, back off, back on, and back off. Does anyone want to find out? I certainly don't. This kind of uncertainty is enormously damaging to our economy. In the meantime, all that happens is that CEOs continue to bow and scrape to Donald Trump at black-tie galas, hoping to secure loopholes for their own companies. Congress has the tools to put a stop to this. We need to act now to stop the chaos. Senator Wyden's and my bipartisan resolution would turn off the emergency, bogus declaration that Donald Trump is using. It would demonstrate that Congress is willing to stand up and say that Donald Trump will not have the magic wand to continue to turn tariffs on and off at whim.”
“Atkins moved to a long career helping billionaire scammers like Sam Bankman-Fried get even richer. Getting Mr. Atkins confirmed instead of stopping the economic chaos-- this is the priority for Republicans in Congress right now. Put another fox in charge of the henhouse while the whole farm could burn to the ground. So that is the Republican plan: Ignore the economic chaos happening around us, confirm a guy who helped cause the last crash, and then go on vacation for 2 weeks. If the Republicans do that, it will be a month before Congress can vote to reverse the President's disastrous tariffs and demonstrate to the world that there are some limits on his ability to cause economic chaos. The Republican approach is reckless, it is dangerous, and most of all, it is cowardly. Trillions of dollars in wealth evaporated last week.”
“Atkins sat on his hands--no acknowledgement that the crash was coming, no steps to avoid the crash, no push to help out families or small businesses once the crash hit. Instead, Mr. Atkins took votes while he was on the SEC that directly contributed to the crash. Even today, despite all of the evidence about how loose regulations triggered a crisis that cost 10 million families their homes and put millions more out of work, Mr. Atkins has 20/0 hindsight about his mistakes. Apparently, he thinks that the only thing we did wrong in the runup to the 2008 crash was not to remove more rules from the giant banks so they could have loaded up even faster on more risk, taken [[Page S2504]] more profits, and then needed a bigger bailout. Once he left government, Mr.”
“Republicans cannot stop us from forcing a vote, but they can delay us, and that is what they are doing. Instead of passing a bill to save our economy, instead of reassuring both Americans and people around the world that there are some limits on what Donald Trump can do in terms of jerking tariffs up and down and sideways and on and off--instead of doing that, the Senate is about to vote to put a career Wall Street suit in charge of the SEC. But it is not just any Wall Streeter. This is a corporate guy, Paul Atkins, who actually has a track record on financial crashes. The Republican nominee for Chairman of the SEC was a member of the SEC during the years leading up to the 2008 financial crisis. His track record in the runup to the crash was impeccable: Mr.”
“Farmers like Rodney Koch, who grows soybeans in Garretson, SD, are worried that tariffs ``will hurt our pocketbooks.'' Can Leader Thune explain to farmers in his home State why he is sitting on his hands while Republicans put their livelihoods at risk? Business owners in Louisiana say they are bracing ``for price hikes from Trump tariffs.'' Can Speaker Johnson explain to his constituents back home why he is sitting on his hands as their costs go through the roof? Republican leadership knows how bad this is, but they do nothing. Normally, that would be it. There is nothing that the minority party, the Democrats, could do about it. But with Senator Wyden's and my bipartisan resolution, Republicans cannot stop us. We can force a vote on the tariff question.”
“He said earlier this week that he would just wait to see what is happening. Senator Mike Johnson has said: We are going to give [Trump] the space necessary to do it and we'll see how it all develops . . . it's only been a week. Yes, it has only been a week. And in that week, capital markets around the world have lost trillions of dollars in value, working people and seniors have seen their savings decimated, people have already started getting pink slips, prices are already going up. And Thune and Johnson's own constituents are urging their Representatives and their Senators to fight back, but so far, they do nothing.”
“They sit on their hands while millions of Americans across the country are sitting at home wondering when Republicans in Congress are going to step up and do something. A few Senators have commented, but so far, we have seen no action-- none--from Republican leadership. Republican Senate leadership knows how bad the tariff situation is, but it is just the same old cowering before Donald Trump. Senate Majority Leader John Thune and Speaker Mike Johnson could hold a vote immediately to shut off these tariffs and end the chaos. They could stand up to Trump and stand up for their constituents. They could demonstrate to the world that Congress has a role to play and can put some curbs on President Trump's tariffs by whim. But apparently Majority Leader Thune is in no hurry.”
“Every community around the country is ringing the alarm bell. People understand that if we do not put an end to this chaos once and for all, we are headed for an economic disaster. As it turns out, even Senators are raising the alarm. Senator John Kennedy said: Tariffs are like whiskey: A little whiskey, under the right circumstances, can be refreshing--but too much whiskey, under the wrong circumstances, can make you drunk as a goat. Go, John. Senator Thom Tillis said: Anyone who says there may be a little bit of pain before we get things right needs to talk to my farmers who are one crop away from bankruptcy. Senator Ted Cruz said he was not ``a fan of jacking up taxes on American consumers.'' Yes, no surprises here. These Republicans all know what is happening. They just refuse to do anything about it.”
“Now imagine what companies can get away with when the President is loudly yelling about putting 10 percent tariffs on everyone, everywhere, everything, all at once, and threatening to do more and at rates that make no sense, and he could change again at any moment. It is not just a killer for honest businesses; it is also going to be a field day for companies that want to juice their profits with just a little price gouging. CEOs are already talking about it. Here are some quotes: We have planned to raise prices to offset. Another: We will pass through that price. Can they be any clearer? They are already telling us that they don't just pass along cost increases that they face; they are saying they will use tariffs to push prices higher and higher. Right now, every economic indicator is flashing red.”
“That is a lot of bad news all at once, and believe it or not, there is more bad news. Donald Trump's tariffs will also be used as an excuse by companies to jack up prices and rip off American families. The Chairman of the Federal Reserve said that Trump's tariffs will mean higher prices. Then he gave an example from the first term of the Trump administration when tariffs on washing machines led to companies hiking prices on washing machines. OK. We understand that, but the damage didn't stop there. Those companies also hiked prices on dryers even though there were no tariffs on dryers. Why? Because they knew American consumers would just assume those prices also went up because of tariffs.”
“Trump's on-again, off-again, on-again, off-again, on-again, off-again tariffs are not encouraging businesses to develop plants in the United States. Instead, they have the opposite effect--they scare off investors. Donald Trump's on-again, off-again tariffs won't bring back manufacturing jobs. Instead, companies are cutting manufacturing jobs, and factory productivity is declining across the country. These tariffs are job killers no matter the sector. As much as Trump loves taking credit for investments that were announced before he took office, the reality is, layoffs are now at the highest they have been since the start of the pandemic and first- quarter hiring plans are at a decade-plus low. Let me say that again. The tariffs are scaring off investors. They are not bringing back manufacturing jobs, and layoffs are on the rise.”
“We owe it to these communities to integrate tariffs with other economic tools to encourage domestic production and good jobs right here in the United States of America. But everyone knows that the kinds of tariffs that Donald Trump is putting in place will not do that. They aren't strategic; they are just plain dumb. It is widely reported that the math behind this brilliant tariff scheme looks exactly like it came from someone typing a bunch of basic questions into ChatGPT and using the resulting bogus numbers to slap tariffs on essentially every country in the world, including a group of islands whose only inhabitants are penguins. Plagiarizing an AI chatbot's idea of a rational tariff policy and using it then to blow up the world economy would make a very funny movie--if real people's livelihoods weren't at stake.”
“I don't agree. I have long argued that smart tariff [[Page S2503]] policy can be an important tool to help grow domestic industries, an important tool to help support good jobs, and an important tool to promote the development of critical supply chains here at home. For three decades, politicians from both parties have worked together to cut bad trade deals--trade deals that sold out American workers and promoted offshoring. Entire communities across this country were hallowed out, and American families across this country were left in the wreckage. We owe it to these communities, we owe it to these families to forge a new path forward on trade, one that invests in American workers and American industry.”
“This might be the first time in history that the actions of a single man have destroyed so much economic value around the planet. If we do not reverse course, this catastrophic mistake will seriously hurt people, seriously hurt small businesses, and seriously hurt the United States' position in the world. We all know what is happening. It isn't possible to turn on a television or check your news feed without seeing it. Every single elected Republican in Congress knows what these tariffs would mean for people--from farmers who are pleading for help as they brace for the trade war, to seniors who are on the verge of retiring and now having to scramble to figure out how they can work longer, to workers who don't know how many more paychecks they will get before being laid off. I know there are people who say tariffs are always a bad idea.”
“So I have a simple question for the Senate: Why aren't we passing this resolution this instant? Let's take a step back and talk about what has happened since Trump imposed his illegal, across-the-board tariffs 1 week ago today. Americans' retirement accounts took a hit. Businesses started hiking prices, and many are preparing for layoffs. Consumer confidence hit its lowest point in years as millions of Americans wonder will they have a job in 3 months' time. Economists have said that if we continue down this path of uncertainty, recession is inevitable. We have actually seen this before--in 2008 during the mortgage meltdown and in 2020, as we were hit by a once-in-a-century virus. But this time, there is no mortgage meltdown; there is no virus. No, the crisis is entirely the fault of one person: Donald Trump.”
“Was it corruption in plain sight? We need an independent investigation into market manipulation because Americans need to know whether President Trump or anyone in his administration manipulated the market to benefit their donors all while they are working for the American people and while small businesses and those working families are paying the price. It is a disaster, but here is the thing: Republicans in Congress have a chance to stop him right now. If they do nothing, they, along with Trump, are responsible for the fallout. Congress could end this dangerous trade war right now by passing my bipartisan resolution with Senator Ron Wyden to turn off the fake emergency authority that Donald Trump is using to impose his worldwide and chaotic tariffs.”
“Mr. President, Donald Trump is trashing our economy. First, Donald Trump imposed across-the-board tariffs. Then, just a few hours ago, he dropped those tariffs to 10 percent on everyone and moved the tariffs up to 125 percent on China, up from 105 percent yesterday. Now there is confusion. There is chaos. No one knows what the tariffs will be tomorrow or the next day or next week or next month. But here is what we do know: Are prices still going up? Yes. Are businesses still wary about investing? Yes. Are millions of working people still worried about their jobs and millions of small businesses still worried about closing shop? Yes. Right before Donald Trump declared that some of his tariffs were off again, he sent out a message to his billionaire buddies. He posted ``THIS IS A GREAT TIME TO BUY!!!'' Was that market manipulation?”
“Cameron obliged, and that picture of sweaty people who were committed to getting their jobs done on behalf of the American people has been hanging in our office ever since. Work on the Banking Committee can be difficult, maybe even more than on other committees. Democrats' and Republicans' views on the issues under the committee's jurisdiction are often diametrically opposed. Things get heated, and sometimes they get personal. But Cameron is a demonstration of decency and exemplary nonpartisan public service. He has made the Banking Committee better, and I am grateful for his service to the committee and to our country. Cameron, we will miss you. Best wishes to you and your family on your next adventure. I yield the floor. The PRESIDING OFFICER. The majority leader.”
“In a markup last Congress, before I was the ranking member, my office had an army of outstanding interns racing stacks of amendments over to Cameron as fast as the printer would shoot out the 50 pages so that we could get them in before 4 p.m., the deadline. Drop off a stack of amendments to Cameron; run back to my office; pick up the next batch; run back to Cameron--over and over and over again. It was the middle of the summer, and let's just be blunt: There was a lot of sweat. Cameron offered them kindness and encouragement the entire way, and they were deeply touched. When our interns ferried over the last batch just in the nick of time, they sheepishly asked Cameron for a photo.”
“I thank him for his dedicated service in the Senate and wish him and his family all the best as he starts the next chapter of his professional career. I want to close with a story about Cameron that is close to my heart. Marking up legislation is one of the most important things any Senate committee does. What people may not know is how much work it is behind the scenes and especially how much work it is for Cameron and his team on Banking. By tradition, the Banking Committee requires that any member wishing to file an amendment to legislation being considered in a markup print out 50 copies of that amendment, sign each one, and drop the stack off to Cameron's office by 4 p.m. and not a second later lest Cameron nicely slam the door in your face.”
“The committee couldn't have asked for a more fair, hardworking, and forward thinking colleague during a time full of transitions and challenges. We were lucky to serve with him and wish Cameron and his family all the best in the next chapter. Then there is former ranking member Pat Toomey, who said: Cameron Ricker's departure from the Banking Committee is a huge loss for the Senate. For over 8 years, he's gracefully kept the trains running on time at the committee, which is no easy feat. And he's always done it with a smile. As Ranking Member, I observed firsthand Cameron's can-do spirit, [his] tireless work ethic, and [his] attention to detail. He was invaluable to me, my staff, and the entire committee.”
“How the heck was an institution that was still firmly stuck in the 18th century supposed to hold hearings or mark up legislation when it was dangerous for people even to be in a room together? Cameron was the first to figure it out. And thanks to his persistence, the Banking Committee was the first in the Senate to hold a virtual hearing during the pandemic, laying out the roadmap for every other committee to follow. My respect for Cameron is broadly shared. I want to read quotes that two recent leaders of the Banking Committee sent to me--one Democrat, one Republican--so that we can hear in their own words how much Cameron has meant to the Banking Committee. Former chairman Sherrod Brown said: Cameron Ricker served 8 years on the Banking and Housing Committee, 6 of those years as chief clerk when I was Chairman and Ranking Member.”
“He spent hours meeting with my staff to make sure that they were prepared for new decisions and responsibilities, impressing every single one of them with his preparation, his thoughtfulness, and his commitment to public service. Generations of Senators and staff who have served on the Banking Committee have been inspired by Cameron's work ethic, hypercompetence, and religious devotion to his favorite pen. It is a Zebra F-701, for those of you who are wondering. Cameron is humble and hard-working, but don't let his humility fool you. He is also a trailblazer. At the start of the COVID-19 pandemic, no one knew how the Senate was going to conduct its committee business.”