May 6, 2025 • 32 mins
Chairman Jason Smith, of Missouri, talks about the budget, the economy and President Trump’s effort on the ‘big beautiful bill.’
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Speaker 1 (00:00):
All right, thanks tout. Shown an hour two Sean Hannity
Show told free art number is eight hundred and nine
four one, Shawn, if you want to be a part
of the program, Great Peace, Wall Street Journal, Scott Peasant,
Treasury Secretary. And he really really goes way deep in
the paint in describing the president's views on the economy
(00:24):
and how the Republican Party has now emerged, and how
he calls it an economic rebalancing and a restoration of
America in the past in which you know, the rich
Wood benefit, and how the Republican Party is now becoming
the party of working men and women while the Democratic
(00:45):
Party caters to coastal elites in California, New York, DC,
in Illinois and New Jersey. But and anyway, he pointed
out what a mistake it was, and referred to an economist,
David author is his name, and how uneven the uneven
affects of trade liberalization. Three point seven million Americans lost
(01:10):
their jobs as a result, and offshore production to China
accounted for fifty nine point three percent of US manufacturing
job losses, and most of these workers entered long term unemployment.
And then he talked about for example, how liberals have
always argued for wealth redistribution and handouts to compensate quote
(01:32):
the losers of this strategy that is, as he says,
failed miserably. And he went on to make the case
about why America has to take this stand against getting
ripped off and frankly abused by friend and foe alike
and reducing and giving countries the option free and fair
(01:55):
trade or telling countries they'll be reciprocal terriffs. And he
talked about supply chain issues. We saw this during the
COVID pandemic and the President even saying that we can
no longer we must manufacture our pharmaceuticals here. Then he
talked about the various you know, plans that the president
(02:16):
has in place. One is the tariff issue. Two is
obviously the president's tax cuts. That's a reconciliation bill that
we expect, hopefully will be completed by the fourth of July.
It can't be done soon enough. And what he pointed
out is during the President's first term, the bottom fifty
percent of households saw their net worth increase faster than
(02:37):
the top ten percent. And the Trump tax cuts would
cost a median income family with two children more than
four thousand dollars in take home pay. It's got to
be passed. And the President, you know, taking it to
the next step by saying that he's gonna not tax tips,
social security or overtime. Again, good for working man and women,
(03:00):
the people that make this country great. And another component
of it is deregulating the economy, not only to build homes, fasters, factories,
faster semiconductors, power plants, AI data centers, chip centers, technologies
of the future, reawakening our industrial capacity in this country.
(03:21):
And that came up in the conversation with the Prime
Minister of Canada today. Now, the last leg of this
stool is going to be energy dominance, which the President
has already put in place with his call for an
emergency Declaration on energy and getting rid of the burdensome
(03:44):
regulations that the Biden error brought to us that cost
us a fortune. And anyway, energy dominance will bring in
massive amounts of money for the American economy. However, first
things first, and one of the most important parts of
this the President cannot do on his own. He needs
the help of Congress. Now it's an arcane, bizarre Senate
(04:05):
rule where you can bypass cloture. It's called reconciliation. We've
gone over it in detail. I won't bore you again.
But rather than needing sixty votes, using the reconciliation process,
which was used for the Inflation Reduction Act Obamacare, for example,
when it's issues involving spending and taxes, the president can
(04:27):
accomplish his agenda without having to wait till October first,
the next fiscal year, and get us out at least
the beginning of getting us out of the Biden economy. Now,
Jason Smith, who is a very important piece of this puzzle,
Jason Smith is you know, of Missouri, is leading this
(04:50):
effort in the House to make sure we don't fail
on this run. Here's what he said on Fox New Sunday.
Speaker 2 (04:56):
Failure is simply not an option. Will it be bumpy, Shannon,
It absolutely is. This is the House of Representatives. But
when we get the job done, we absolutely will Failure's
not an option. If we don't, Shannon, every single American
will face on average, a twenty two percent tax increase.
This is the last thing that they need after the
(05:19):
last four years of the Biden administration where they had
an inflation tax all right.
Speaker 1 (05:23):
Joining us now is Jason Smith, the Missouri who is
spearheading a lot of this effort to get this one big,
beautiful bill done and hopefully done by the fourth of July. Sir,
welcome back to the program. How are you.
Speaker 2 (05:36):
I'm doing great. It's always great to be with you, Sean.
Speaker 1 (05:39):
I understand the slim majorities in the House and Senate.
I understand the problems associated with the reconciliation process, and
that means that the House has to work closely with
the Senate and the Senate parliamentarian. But I do believe
that a lot of the President's goals that he's laid
forth here can be achieved as long as Republicans understand
(06:00):
that not everyone's going to get everything that they want.
Speaker 2 (06:03):
That's exactly right, and my colleague, Sean, is that everyone's
going to have to give and take. We know what
seventy seven million Americans spoke loud and clear when they
elected President Trump, and President Trump was crystal clear Sean
on the campaign trail that he wanted to make permanent
his expiring twenty seventeen tax cuts, and he wanted to
(06:25):
also provide additional relief to working families such as no
tax on tips, no tax from overtime. Then he wanted
to provide tax relief for seniors. These are all things
that the President's been very clear on and Congress is
going to deliver on it, and we'll get the job done,
even with the narrow margins, but we'll get it done.
Speaker 1 (06:49):
One of the big sticking points is the state and
local tax deduction, which I guess the vernacular commonly known
as sault deductions. And there was a limit, I believe,
of ten thousand dollars, and a lot of blue state
Republicans are pushing very, very hard to dramatically raise that level.
(07:09):
Now during Trump's first term, I ended up paying more
in taxes because that deduction was I believe rightly taken
away from me. Because I believe that it rewards states
for electing big taxes spend liberals and putting massive taxes
on local and state income for example, and other taxes,
(07:34):
and if you make a deductible, you're only rewarding electing
the wrong people.
Speaker 2 (07:39):
Yeah, that's been a huge, huge point of contention throughout
this process. Of course, the Republican members of Congress from California,
New York, and New Jersey in particular, this is a
very sensitive issue. They feel like the ten thousand dollars
cap that was put in place in the twenty seventeen
tax cuts is not big enough. But what we also
(08:00):
are dealing with in the House of Representative Sean, is
that there's some members in our conference that doesn't believe
you should even be able to deduct one dollar, and
so trying to thread that needle where we can have
only lose three people to ultimately pass this bill is
it's a balancing approach, and we're going to have to
(08:21):
think outside of the box to get this done.
Speaker 1 (08:25):
So the numbers that I've heard bannered about are raising
it from ten thousand to thirty thousand or fifty thousand,
and then some pushing as high as one hundred thousand,
sixty thousand another number I've heard. Those are the numbers
I've heard. Do you expect that it will go up,
but maybe not as much as some people want, So I.
Speaker 2 (08:45):
Believe everyone's going to be unhappy, Sean. That's hugely how
it's probably going to end up. But the ten thousand
dollars cap is not something that is satisfactory with those
members from California, New York, and New Jersey and we
can't lose those members, but they have to have a
realistic number, and that's what we're trying to balance and
(09:07):
thread that needle to have the right number. I would
love for those members to be able to say that
such a large percentage of their people are covered by
doing this.
Speaker 1 (09:20):
So, in other words, get to a number where say,
median income tax earners would be covered and they would
have the deduction, but not high net worth individuals.
Speaker 2 (09:32):
Absolutely. I think it's super important that this tax bill
is reflective of the people who sent us to Washington.
And the people who sent us to Washington are working
class Americans who just want government out of their life.
They want to play kay less taxes. You know, the
average salt deduction in my state, in my congressional district
(09:53):
is just over twelve hundred dollars, just over time, because
we're a low taxing state.
Speaker 1 (10:00):
Of course, by the way, does that include property taxes too?
Speaker 3 (10:02):
Or no? It does? It does.
Speaker 2 (10:05):
Missouri is nice and it's a great place to live
and do business.
Speaker 1 (10:08):
So salt covers property taxes, that's not something I know.
Speaker 2 (10:13):
It does. State and local tax is income and property.
Speaker 1 (10:18):
Got it, well, I mean it seems to me that
there's going to be some increase in the deduct in
the deduction. Uh. And then it seems like the mathematical
formula will will kind of center around middle income Americans
in these states, so that these congressmen and women can
(10:40):
go back and say, I got your assault deduction back.
Speaker 2 (10:44):
Exactly. It has to be a very good point for
these members, but also a tolerable point for the members
from Texas and Florida who don't have a state income
tax and and don't really lize the salt deduction nearly
as high. But you know, this is just one of
the numerous issues, like if you look at the IRA,
(11:07):
another another item, you have thirty five members who sent
me a letter last week wanting to repel the IRA
immediately by the roots. And then I had twenty five
different members sit me a letter saying use a scalpool
approach at the IRA. So this is this is all
part of it. And there's hundreds of billions of dollars
(11:29):
in the Inflation Reduction Act that went to woke elites
that we can use to pay for the President's priorities
for working class families and seniors.
Speaker 1 (11:39):
All right, quick break, right, back more with Congressman Jason
Smith of Missouri's in the House. He's spearheading this effort
to get this one big beautiful bill done by July fourth.
More on the details of this on the other side,
and will have passed. And then the Oval Office gaggle
with the Canadian Prime Minister Mark Carney fascinating. Will play
(12:00):
that for you, and John Solomon is breaking news straight ahead.
Speaker 3 (12:09):
He's not a.
Speaker 4 (12:09):
Great golfer, he's a mediocre tennis player, but he's pretty
good on the radio. Sean Hannity is on right now.
Speaker 1 (12:20):
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(12:40):
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Speaker 3 (13:22):
Try.
Speaker 1 (13:23):
We continue now with Chairman Jason Smith, the Missouri. He
is spearheading the effort to get this one big, beautiful
bill done by July fourth. What are the other contentious
issues that you're dealing with. Where do you see the
biggest fights coming down?
Speaker 2 (13:35):
So another important priority in the House is to cut spending,
and so you're looking at a lot of the discussions
right now of how much spending can we cut from
this current proposal and what's tolerated by some of the
members who do not like to cut spending. But there's
(13:58):
ways that you can save revenues from work requirements on
different different programs to correcting the inefficiencies, like, for example,
if we require a social Security number for the child
tax credit in the tax code for the child and
(14:18):
the parents, that can save over thirty billion dollars, so
that it's going to US citizens, not illegal.
Speaker 1 (14:28):
Yeah, all right, So, but this one big, beautiful bill.
It would do a lot of things. It would give
the Department of Homeland Security and Christy Noman Tom Homan
the moneies that they need to secure our border, my understanding,
would help with energy dominance and the President's plan to
expeditiously move those projects forward. It would deal with everything
involved in the economy. It would make the tax cuts permanent,
(14:52):
also adding no tax on tip, social Security, and over time.
It would also alloc money and resources for national security purposes. Defense.
What am I missing?
Speaker 2 (15:06):
No, you covered it all very well, Sean. This is
a gift to America where they can keep more of
their money and not send it to the government. They
can make sure that their border is protected, their homeland
is protected, that they can make sure that we're unleashing
our energy and reducing regulations. This is something that would
(15:30):
be amazing for the President to sign into law on
the fourth of July. And this would be a great
gift going into the two hundred and fiftieth anniversary for
our country.
Speaker 1 (15:41):
What are the odds that's going to be done by
the last.
Speaker 2 (15:44):
Question, I think we have a really good shot. You know,
we're days away from getting this bill on the floor
in the House of Representatives and then popping it over
to the Senate. The House and Senate and the White
House has been working hands and gloves throughout this process
to make sure that we're all on the same page
and we're going to be able to deliver it. And
(16:04):
I think July fourth is very very realistic.
Speaker 1 (16:07):
All right, Jason Smith, keep us up to speed. We
appreciate it. Congressman, thank you so much for your time
as always. All right, So earlier today, by the way,
at the top of the hour, we do have breaking
news with John Solomon. Obviously, Canada is a big part
of it, China is a big part of it. But
more importantly, this was fascinating today watching the President with
(16:31):
the new Prime Minister of Canada, Mark Carney. Now, by
the way, he fashioned himself as a Canadian first or
Canada first politician, and if you look at his background,
he is a radical leftist who led the net zero
campaign to phase out oil, gas and coal, champion globalism
(16:52):
at the UN to cry to his country's you know,
truckers that were protesting over the mandates. The COVID mandates,
as an arch Is called its edition, even wanted to
prosecute Americans if they would send money to the truckers.
At the time, we covered that story extensively. But he's
a radical, so the President brought him in kind of
(17:14):
schooled him.
Speaker 3 (17:15):
You know.
Speaker 1 (17:15):
The only thing he fought back on it will never
be the fifty first state President. Trump vansays, never say never.
But this was just an interesting dynamic and very different
from Little Justin, and I think it actually was very
net positive all the way around. But listen to the interaction.
Speaker 3 (17:33):
Thank you very much, everybody. It's a great honor to
have Prime Minister Mark Karney with us. As you know,
just a few days ago, he won a very big
election in Canada, and I think I was probably the
greatest thing that happened to him. But I can't take vote.
His party was losing by a lot, he ended up winning,
so I really want to congratulate it. Probably one of
(17:56):
the greatest comebacks in the history of politics, maybe even
greater than mine. But I want to just congratulate you
rose a great election. Actually we were watching it with interest,
and I think Canada chose a very talented person a
very good person. As we spoke before the election quite
a few times, and it's an honor to have you
at the White House and the Oval Office, and you
(18:17):
see the new and improved Oval Office as it becomes
more and more beautiful with love, we handle it with
great love and twenty four carra goal that always helps too.
But it's been a lot of fun going over some
of the beautiful pictures that were stored in the vaults
that were for many many years, in some cases over
(18:40):
one hundred years. They was stored in vaults of the
great presidents who are almost great presidents, all having a
reason for being up, every one of them. So it's
very interesting. But I just want to congratulate you, and
we're in a really great race. I watched the debate.
I thought you were excellent, and I think we have
a lot of things income and we have some tough
(19:01):
points to go over and that'll be fine. We'll then
also be discussing Ukraine Russia the war, because Mark once
it ended as quickly as I do, I think it
has to end. We had some very good news last night.
The uties have announced that they are not or they've
announced to us at least that they don't want to
fight anymore. They just don't want to fight, and we
(19:23):
will honor that and we will we will stop the
bombings and they have capitulated. But more importantly, they we
will take their word. They say they will not be
blowing up ships anymore, and that's what the purpose of
what we were doing. So that's just news. We just
(19:44):
found out about that. So I think that's very very positive.
They were. They were knocking out a lot of ships going,
as you know, sailing beautifully down the various seas. It
wasn't just the Canal, it was a lot of other places.
And I will accept their word, and we are going
(20:04):
to stop the bombing of the Bhuti's effective immediately. We'll
have maybe before we're going to as you know, the
Middle East, Saudi Arabia, We're going to Uee and Qatar,
and that'll be I guess Monday night. Some of you
are coming with us. I think before then, we're gonna
have a very very big announcement to make like as
(20:27):
big as it gets. And I won't tell you on what,
but it's gonna be and it's very positive. I'd also
I tell you if it was negative or positive. I
can't keep that up. It is really really positive. And
that announcement will be made either Thursday or Friday or
Monday before we leave, but it'll be one of the
most important announcements that have been made in many years
(20:50):
about a certain subject, very important subject. So you'll all
be here, Mark, would you like to say a few words.
Speaker 5 (20:58):
Thank you, miss Bent. I'm on the edge of my
seat actually, but thank you for your hospitality and a
and above all for for your leadership. You're your transformational president.
Speaker 3 (21:09):
UH.
Speaker 5 (21:10):
The focus on the economy with a relentless focus on
the American worker, UH, securing your borders, providing ending the
scourge of fentanyl and other opioids, and and securing the world.
And I've been elected UH with with my colleagues here,
with the help of my colleagues here, I'm gonna spread
spread the UH the credit UH to transform Canada with
(21:34):
a similar focus on the economy, securing our borders, UH
again on fentanyl, UH, much greater focus on defense and security,
securing the Arctic, and developing the Arctic. And you know
the history of Canada and the US is we're stronger
when we work together. And there's many opportunities to work
together and I look forward to, you know, addressing some
of those issues that we have, but also finding those
(21:55):
areas of mutual cooperation so we can go forward.
Speaker 3 (21:58):
Very nice, thank you, Sorry, nice statement anybody. No, it
was actually very effective, and it's still very effective. But
people have to follow it, so you know, that's been
a problem. People haven't followed it. But it was a
(22:22):
transitional step a little bit, and as you know, it
terminates fairly shortly, it gets renegotiated very shortly. But I
thought it was a very positive step from NAFTA and
after was the worst trade deal in the history of
our country, probably in the history of the world. And
this was a transitional deal, and we'll see what happens.
(22:45):
You know, we're going to be starting to possibly renegotiate
that if it's even necessary. I don't know that it's
necessary anymore. But it served a very good purpose, and
the biggest purpose it served as we got rid of NAFTA.
NAFTA was a very unfair deal for the United States.
It's a very very terrible deal. It should have never
been made. It was made many years ago, but it
should have never been made the United States. I would
(23:13):
I would love that. Look I have a lot of
respect for this man. And I watched him come up
and essential through the ranks when he wasn't given much
of a chance, and he did. He ran a really
great That might hurt you, but no, he ran a
really great election. I thought, And yeah, something could happen,
Something could happen. Yeah, please have the top concession went
(23:34):
out of Canada, the top session out of the concession.
Friendships just I just we're going to be friends with Canada,
regardless of anything. We're going to be friends with Canada.
Canada is a very special place to make. I know
so many people that live in Canada. My parents had
relatives that lived in Canada, my mother in particular. And no,
(23:57):
I love Canada a lot of I have a lot
of respect for the Canadians. Wing Gretzky. I mean, how
the great one. You happen to have a very very
good hockey player right here on the capitals who I
have a lot of is he is a big tough
cookie too. It just broke the record and he's a
great guy. And uh, you know, we had the we
(24:17):
had the team here and I got to know a
lot of the players. But now, Canada is a very
special place. Yeah, please allowed to get here. Responsible too,
As the President of US said, canadis the first day. No, no,
well I still believe that. But but you know, it
takes two to tango, right, But no, I do. I mean,
(24:40):
I believe it would be a massive tax cut for
the Canadian citizens. Uh, you get free military, you get
tremendous medical cares and other things. There would be a
lot of advantages, but it would be it would be
a massive tax cut, and it's also a beautiful you know,
as a real estate develop you know, I'm a real
(25:00):
estate developer at heart. When you get rid of that
artificially drawing line, somebody drew that line many years ago
with like a ruler, just a straight line right across
that top of the country. When you look at that
beautiful formation when it's together, I'm a very artistic person.
But when I looked at that, bet, I said, that's
the way it was meant to be. But you know
it's I just I do feel it's much better for Canada.
(25:25):
But we're not going to be discussing that unless somebody
wants to discuss it. I think that there are tremendous
benefits to the Canadian citizens tremendously lower taxes, free military
which honestly we give you essentially anyway because we're protecting Canada.
If you have had a problem, but I think you
know it's it would really be a wonderful marriage because
(25:47):
it's it's two places. They get along very well. They
like each other a lot.
Speaker 5 (25:51):
Well if I'm a As you know from real estate,
there are some places.
Speaker 3 (25:57):
That are never for sale.
Speaker 5 (25:59):
We're sitting in one right now, you know, bucking And Palace,
and you visit it as well. And having met with
the owners of Canada over the course of the campaign
last several months, it's not for sale, won't be for
sale ever. But the opportunity is in the partnership and
what we can build together, and we have done that
(26:19):
in the past. And part of that, as the President
just said, is with respect to our own security, and
my government is committed for a step change in our
investment in Canadian security and our partnership. And I'll say
this as well, that the President has revitalized international security,
revitalized nature and us playing our full weight in NATO,
(26:42):
and that.
Speaker 3 (26:42):
Will be parts they have. I must say, Canada is
stepping up the military participation because Mark now you know
they were low and now they're stepping it up, and
that's a very important thing. But never say, never ever said.
Speaker 1 (27:00):
That every.
Speaker 3 (27:07):
Weake to get to the terrace off of Canada. Well,
we'll be talking about different things. You know, we want
to protect our automobile business, and so does Mark. But
we want to protect we want to make the automobiles
and we want to you know, we have a tremendous
abundance of energy, more than any country. We have just
in Alaska alone, and war has been reopened now and
(27:29):
was probably the largest find anywhere in the world. They
say it's larger than Saudi Arabia. I don't know, but
it's a lot. But we have tremendous amounts of energy.
Other countries don't. We're both lucky in that way. They
have energy, We have energy. We have more than we
can ever use and more than we could ever sell. Actually,
and you have the same thing. We're gonna have a
great announcement over the next few days, an announcement that
(27:51):
will be so so incredible, so positive, and I'm not
saying I don't want you to think it's necessarily and
trade just to finish. We also have a situation because
everyone says when, when, when are you going to sign deals?
We don't have to sign deals. We can sign twenty
five deals right now, Howard if we wanted, We don't
have to sign deal. They have to sign deals with us.
(28:12):
They want a piece of our market. We don't want
a piece of their market. We don't care about their market.
They want a piece of our market. So we can
just sit down and I'll do this at some point
over the next two weeks, and I'll sit with Howard
and Scott and with our great vice president who has
done a really good job. We have some good news
to report on a lot of fronts. But JD will
(28:34):
be there and Marco and we're going to sit down
and we're going to put very fair numbers down and
we're going to say here's what this country what we want,
and congratulations, we have a deal. And they'll either say
great and they'll start shopping, or they'll say not good,
we're not going to do it. I said, that's okay,
you don't have to shop. Now. We may think, well,
(28:56):
they have a right, you know that maybe we were
a little bit wrong. Will adjust it, and then you
people say, oh, it's so chaotic now, we're flexible, but
we'll sit down and we'll at some point. In some cases,
we'll sign some deals. It's much less important than what
I'm talking about. For the most part, we're just going
to put down a number and say this is what
you're going to pay to shop, and it's going to
(29:17):
be a very fair number. It'll be a low number.
We're not looking to hurt countries. We want to help countries.
We want to be friendly with countries. So I wish
it keep you stop asking how many deals are you
signing this week, because one day we'll come and we'll
give you a hundred deals and they don't have to sign.
All they have to do is say, oh, we'll start
sending our ships right now to pick up whatever we
(29:40):
want or to bring whatever we want. It's very very simple,
and I think why people haven't made it clear. We
will sign some deals, but much bigger than that is
we're going to put down the price that people are
going to have to pay to shop in the United States.
Think of us as a super luxury store, a store
that has the goods. You're gonna come and you're gonna
(30:02):
pay a price, and we're gonna give you a very
good price. We're gonna make very good deals and in
some cases we'll adjust. But that's where it is.
Speaker 1 (30:09):
All right, quick freak, We'll come right back. We'll continue
on the other side. Eight hundred and nine to four
one sewn our number and John Solomon at the top
of the hour. As we continue, the golden years are back.
Speaker 3 (30:26):
Maybe America grating again.
Speaker 4 (30:29):
Hang on, it's gonna be fun. Sean Hannity twenty twenty
five is on right now, right.
Speaker 1 (30:43):
The FBI is warning every single American and user of
popular email services even like Gmail Outlook, you've got to
be watching out for this increase in ransomware attacks. All
of us are subject to identity theft and fraud and
abuse more than three hundred figctims in this case, ransomware
across a variety of business industries. Entire industries now have
(31:06):
been targeted just in February of twenty twenty five alone. Now,
to protect yourself, your data, your good name, reputation, your finances,
you've got to use unique passwords vp ends if accessing
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all have to understand lots of places can even accidentally
(31:28):
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(31:48):
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code Hannity forty percent off and protect your name, finances,
and reputation. When we come back, John Solomon on a
(32:11):
variety of breaking news issues and your calls eight hundred
ninety four one Shawn
All right, thanks tout. Shown an hour two Sean Hannity
Show told free art number is eight hundred and nine
four one, Shawn, if you want to be a part
of the program, Great Peace, Wall Street Journal, Scott Peasant,
Treasury Secretary. And he really really goes way deep in
the paint in describing the president's views on the economy
(00:24):
and how the Republican Party has now emerged, and how
he calls it an economic rebalancing and a restoration of
America in the past in which you know, the rich
Wood benefit, and how the Republican Party is now becoming
the party of working men and women while the Democratic
(00:45):
Party caters to coastal elites in California, New York, DC,
in Illinois and New Jersey. But and anyway, he pointed
out what a mistake it was, and referred to an economist,
David author is his name, and how uneven the uneven
affects of trade liberalization. Three point seven million Americans lost
(01:10):
their jobs as a result, and offshore production to China
accounted for fifty nine point three percent of US manufacturing
job losses, and most of these workers entered long term unemployment.
And then he talked about for example, how liberals have
always argued for wealth redistribution and handouts to compensate quote
(01:32):
the losers of this strategy that is, as he says,
failed miserably. And he went on to make the case
about why America has to take this stand against getting
ripped off and frankly abused by friend and foe alike
and reducing and giving countries the option free and fair
(01:55):
trade or telling countries they'll be reciprocal terriffs. And he
talked about supply chain issues. We saw this during the
COVID pandemic and the President even saying that we can
no longer we must manufacture our pharmaceuticals here. Then he
talked about the various you know, plans that the president
(02:16):
has in place. One is the tariff issue. Two is
obviously the president's tax cuts. That's a reconciliation bill that
we expect, hopefully will be completed by the fourth of July.
It can't be done soon enough. And what he pointed
out is during the President's first term, the bottom fifty
percent of households saw their net worth increase faster than
(02:37):
the top ten percent. And the Trump tax cuts would
cost a median income family with two children more than
four thousand dollars in take home pay. It's got to
be passed. And the President, you know, taking it to
the next step by saying that he's gonna not tax tips,
social security or overtime. Again, good for working man and women,
(03:00):
the people that make this country great. And another component
of it is deregulating the economy, not only to build homes, fasters, factories,
faster semiconductors, power plants, AI data centers, chip centers, technologies
of the future, reawakening our industrial capacity in this country.
(03:21):
And that came up in the conversation with the Prime
Minister of Canada today. Now, the last leg of this
stool is going to be energy dominance, which the President
has already put in place with his call for an
emergency Declaration on energy and getting rid of the burdensome
(03:44):
regulations that the Biden error brought to us that cost
us a fortune. And anyway, energy dominance will bring in
massive amounts of money for the American economy. However, first
things first, and one of the most important parts of
this the President cannot do on his own. He needs
the help of Congress. Now it's an arcane, bizarre Senate
(04:05):
rule where you can bypass cloture. It's called reconciliation. We've
gone over it in detail. I won't bore you again.
But rather than needing sixty votes, using the reconciliation process,
which was used for the Inflation Reduction Act Obamacare, for example,
when it's issues involving spending and taxes, the president can
(04:27):
accomplish his agenda without having to wait till October first,
the next fiscal year, and get us out at least
the beginning of getting us out of the Biden economy. Now,
Jason Smith, who is a very important piece of this puzzle,
Jason Smith is you know, of Missouri, is leading this
(04:50):
effort in the House to make sure we don't fail
on this run. Here's what he said on Fox New Sunday.
Speaker 2 (04:56):
Failure is simply not an option. Will it be bumpy, Shannon,
It absolutely is. This is the House of Representatives. But
when we get the job done, we absolutely will Failure's
not an option. If we don't, Shannon, every single American
will face on average, a twenty two percent tax increase.
This is the last thing that they need after the
(05:19):
last four years of the Biden administration where they had
an inflation tax all right.
Speaker 1 (05:23):
Joining us now is Jason Smith, the Missouri who is
spearheading a lot of this effort to get this one big,
beautiful bill done and hopefully done by the fourth of July. Sir,
welcome back to the program. How are you.
Speaker 2 (05:36):
I'm doing great. It's always great to be with you, Sean.
Speaker 1 (05:39):
I understand the slim majorities in the House and Senate.
I understand the problems associated with the reconciliation process, and
that means that the House has to work closely with
the Senate and the Senate parliamentarian. But I do believe
that a lot of the President's goals that he's laid
forth here can be achieved as long as Republicans understand
(06:00):
that not everyone's going to get everything that they want.
Speaker 2 (06:03):
That's exactly right, and my colleague, Sean, is that everyone's
going to have to give and take. We know what
seventy seven million Americans spoke loud and clear when they
elected President Trump, and President Trump was crystal clear Sean
on the campaign trail that he wanted to make permanent
his expiring twenty seventeen tax cuts, and he wanted to
(06:25):
also provide additional relief to working families such as no
tax on tips, no tax from overtime. Then he wanted
to provide tax relief for seniors. These are all things
that the President's been very clear on and Congress is
going to deliver on it, and we'll get the job done,
even with the narrow margins, but we'll get it done.
Speaker 1 (06:49):
One of the big sticking points is the state and
local tax deduction, which I guess the vernacular commonly known
as sault deductions. And there was a limit, I believe,
of ten thousand dollars, and a lot of blue state
Republicans are pushing very, very hard to dramatically raise that level.
(07:09):
Now during Trump's first term, I ended up paying more
in taxes because that deduction was I believe rightly taken
away from me. Because I believe that it rewards states
for electing big taxes spend liberals and putting massive taxes
on local and state income for example, and other taxes,
(07:34):
and if you make a deductible, you're only rewarding electing
the wrong people.
Speaker 2 (07:39):
Yeah, that's been a huge, huge point of contention throughout
this process. Of course, the Republican members of Congress from California,
New York, and New Jersey in particular, this is a
very sensitive issue. They feel like the ten thousand dollars
cap that was put in place in the twenty seventeen
tax cuts is not big enough. But what we also
(08:00):
are dealing with in the House of Representative Sean, is
that there's some members in our conference that doesn't believe
you should even be able to deduct one dollar, and
so trying to thread that needle where we can have
only lose three people to ultimately pass this bill is
it's a balancing approach, and we're going to have to
(08:21):
think outside of the box to get this done.
Speaker 1 (08:25):
So the numbers that I've heard bannered about are raising
it from ten thousand to thirty thousand or fifty thousand,
and then some pushing as high as one hundred thousand,
sixty thousand another number I've heard. Those are the numbers
I've heard. Do you expect that it will go up,
but maybe not as much as some people want, So I.
Speaker 2 (08:45):
Believe everyone's going to be unhappy, Sean. That's hugely how
it's probably going to end up. But the ten thousand
dollars cap is not something that is satisfactory with those
members from California, New York, and New Jersey and we
can't lose those members, but they have to have a
realistic number, and that's what we're trying to balance and
(09:07):
thread that needle to have the right number. I would
love for those members to be able to say that
such a large percentage of their people are covered by
doing this.
Speaker 1 (09:20):
So, in other words, get to a number where say,
median income tax earners would be covered and they would
have the deduction, but not high net worth individuals.
Speaker 2 (09:32):
Absolutely. I think it's super important that this tax bill
is reflective of the people who sent us to Washington.
And the people who sent us to Washington are working
class Americans who just want government out of their life.
They want to play kay less taxes. You know, the
average salt deduction in my state, in my congressional district
(09:53):
is just over twelve hundred dollars, just over time, because
we're a low taxing state.
Speaker 1 (10:00):
Of course, by the way, does that include property taxes too?
Speaker 3 (10:02):
Or no? It does? It does.
Speaker 2 (10:05):
Missouri is nice and it's a great place to live
and do business.
Speaker 1 (10:08):
So salt covers property taxes, that's not something I know.
Speaker 2 (10:13):
It does. State and local tax is income and property.
Speaker 1 (10:18):
Got it, well, I mean it seems to me that
there's going to be some increase in the deduct in
the deduction. Uh. And then it seems like the mathematical
formula will will kind of center around middle income Americans
in these states, so that these congressmen and women can
(10:40):
go back and say, I got your assault deduction back.
Speaker 2 (10:44):
Exactly. It has to be a very good point for
these members, but also a tolerable point for the members
from Texas and Florida who don't have a state income
tax and and don't really lize the salt deduction nearly
as high. But you know, this is just one of
the numerous issues, like if you look at the IRA,
(11:07):
another another item, you have thirty five members who sent
me a letter last week wanting to repel the IRA
immediately by the roots. And then I had twenty five
different members sit me a letter saying use a scalpool
approach at the IRA. So this is this is all
part of it. And there's hundreds of billions of dollars
(11:29):
in the Inflation Reduction Act that went to woke elites
that we can use to pay for the President's priorities
for working class families and seniors.
Speaker 1 (11:39):
All right, quick break, right, back more with Congressman Jason
Smith of Missouri's in the House. He's spearheading this effort
to get this one big beautiful bill done by July fourth.
More on the details of this on the other side,
and will have passed. And then the Oval Office gaggle
with the Canadian Prime Minister Mark Carney fascinating. Will play
(12:00):
that for you, and John Solomon is breaking news straight ahead.
Speaker 3 (12:09):
He's not a.
Speaker 4 (12:09):
Great golfer, he's a mediocre tennis player, but he's pretty
good on the radio. Sean Hannity is on right now.
Speaker 1 (12:20):
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(12:40):
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Speaker 3 (13:22):
Try.
Speaker 1 (13:23):
We continue now with Chairman Jason Smith, the Missouri. He
is spearheading the effort to get this one big, beautiful
bill done by July fourth. What are the other contentious
issues that you're dealing with. Where do you see the
biggest fights coming down?
Speaker 2 (13:35):
So another important priority in the House is to cut spending,
and so you're looking at a lot of the discussions
right now of how much spending can we cut from
this current proposal and what's tolerated by some of the
members who do not like to cut spending. But there's
(13:58):
ways that you can save revenues from work requirements on
different different programs to correcting the inefficiencies, like, for example,
if we require a social Security number for the child
tax credit in the tax code for the child and
(14:18):
the parents, that can save over thirty billion dollars, so
that it's going to US citizens, not illegal.
Speaker 1 (14:28):
Yeah, all right, So, but this one big, beautiful bill.
It would do a lot of things. It would give
the Department of Homeland Security and Christy Noman Tom Homan
the moneies that they need to secure our border, my understanding,
would help with energy dominance and the President's plan to
expeditiously move those projects forward. It would deal with everything
involved in the economy. It would make the tax cuts permanent,
(14:52):
also adding no tax on tip, social Security, and over time.
It would also alloc money and resources for national security purposes. Defense.
What am I missing?
Speaker 2 (15:06):
No, you covered it all very well, Sean. This is
a gift to America where they can keep more of
their money and not send it to the government. They
can make sure that their border is protected, their homeland
is protected, that they can make sure that we're unleashing
our energy and reducing regulations. This is something that would
(15:30):
be amazing for the President to sign into law on
the fourth of July. And this would be a great
gift going into the two hundred and fiftieth anniversary for
our country.
Speaker 1 (15:41):
What are the odds that's going to be done by
the last.
Speaker 2 (15:44):
Question, I think we have a really good shot. You know,
we're days away from getting this bill on the floor
in the House of Representatives and then popping it over
to the Senate. The House and Senate and the White
House has been working hands and gloves throughout this process
to make sure that we're all on the same page
and we're going to be able to deliver it. And
(16:04):
I think July fourth is very very realistic.
Speaker 1 (16:07):
All right, Jason Smith, keep us up to speed. We
appreciate it. Congressman, thank you so much for your time
as always. All right, So earlier today, by the way,
at the top of the hour, we do have breaking
news with John Solomon. Obviously, Canada is a big part
of it, China is a big part of it. But
more importantly, this was fascinating today watching the President with
(16:31):
the new Prime Minister of Canada, Mark Carney. Now, by
the way, he fashioned himself as a Canadian first or
Canada first politician, and if you look at his background,
he is a radical leftist who led the net zero
campaign to phase out oil, gas and coal, champion globalism
(16:52):
at the UN to cry to his country's you know,
truckers that were protesting over the mandates. The COVID mandates,
as an arch Is called its edition, even wanted to
prosecute Americans if they would send money to the truckers.
At the time, we covered that story extensively. But he's
a radical, so the President brought him in kind of
(17:14):
schooled him.
Speaker 3 (17:15):
You know.
Speaker 1 (17:15):
The only thing he fought back on it will never
be the fifty first state President. Trump vansays, never say never.
But this was just an interesting dynamic and very different
from Little Justin, and I think it actually was very
net positive all the way around. But listen to the interaction.
Speaker 3 (17:33):
Thank you very much, everybody. It's a great honor to
have Prime Minister Mark Karney with us. As you know,
just a few days ago, he won a very big
election in Canada, and I think I was probably the
greatest thing that happened to him. But I can't take vote.
His party was losing by a lot, he ended up winning,
so I really want to congratulate it. Probably one of
(17:56):
the greatest comebacks in the history of politics, maybe even
greater than mine. But I want to just congratulate you
rose a great election. Actually we were watching it with interest,
and I think Canada chose a very talented person a
very good person. As we spoke before the election quite
a few times, and it's an honor to have you
at the White House and the Oval Office, and you
(18:17):
see the new and improved Oval Office as it becomes
more and more beautiful with love, we handle it with
great love and twenty four carra goal that always helps too.
But it's been a lot of fun going over some
of the beautiful pictures that were stored in the vaults
that were for many many years, in some cases over
(18:40):
one hundred years. They was stored in vaults of the
great presidents who are almost great presidents, all having a
reason for being up, every one of them. So it's
very interesting. But I just want to congratulate you, and
we're in a really great race. I watched the debate.
I thought you were excellent, and I think we have
a lot of things income and we have some tough
(19:01):
points to go over and that'll be fine. We'll then
also be discussing Ukraine Russia the war, because Mark once
it ended as quickly as I do, I think it
has to end. We had some very good news last night.
The uties have announced that they are not or they've
announced to us at least that they don't want to
fight anymore. They just don't want to fight, and we
(19:23):
will honor that and we will we will stop the
bombings and they have capitulated. But more importantly, they we
will take their word. They say they will not be
blowing up ships anymore, and that's what the purpose of
what we were doing. So that's just news. We just
(19:44):
found out about that. So I think that's very very positive.
They were. They were knocking out a lot of ships going,
as you know, sailing beautifully down the various seas. It
wasn't just the Canal, it was a lot of other places.
And I will accept their word, and we are going
(20:04):
to stop the bombing of the Bhuti's effective immediately. We'll
have maybe before we're going to as you know, the
Middle East, Saudi Arabia, We're going to Uee and Qatar,
and that'll be I guess Monday night. Some of you
are coming with us. I think before then, we're gonna
have a very very big announcement to make like as
(20:27):
big as it gets. And I won't tell you on what,
but it's gonna be and it's very positive. I'd also
I tell you if it was negative or positive. I
can't keep that up. It is really really positive. And
that announcement will be made either Thursday or Friday or
Monday before we leave, but it'll be one of the
most important announcements that have been made in many years
(20:50):
about a certain subject, very important subject. So you'll all
be here, Mark, would you like to say a few words.
Speaker 5 (20:58):
Thank you, miss Bent. I'm on the edge of my
seat actually, but thank you for your hospitality and a
and above all for for your leadership. You're your transformational president.
Speaker 3 (21:09):
UH.
Speaker 5 (21:10):
The focus on the economy with a relentless focus on
the American worker, UH, securing your borders, providing ending the
scourge of fentanyl and other opioids, and and securing the world.
And I've been elected UH with with my colleagues here,
with the help of my colleagues here, I'm gonna spread
spread the UH the credit UH to transform Canada with
(21:34):
a similar focus on the economy, securing our borders, UH
again on fentanyl, UH, much greater focus on defense and security,
securing the Arctic, and developing the Arctic. And you know
the history of Canada and the US is we're stronger
when we work together. And there's many opportunities to work
together and I look forward to, you know, addressing some
of those issues that we have, but also finding those
(21:55):
areas of mutual cooperation so we can go forward.
Speaker 3 (21:58):
Very nice, thank you, Sorry, nice statement anybody. No, it
was actually very effective, and it's still very effective. But
people have to follow it, so you know, that's been
a problem. People haven't followed it. But it was a
(22:22):
transitional step a little bit, and as you know, it
terminates fairly shortly, it gets renegotiated very shortly. But I
thought it was a very positive step from NAFTA and
after was the worst trade deal in the history of
our country, probably in the history of the world. And
this was a transitional deal, and we'll see what happens.
(22:45):
You know, we're going to be starting to possibly renegotiate
that if it's even necessary. I don't know that it's
necessary anymore. But it served a very good purpose, and
the biggest purpose it served as we got rid of NAFTA.
NAFTA was a very unfair deal for the United States.
It's a very very terrible deal. It should have never
been made. It was made many years ago, but it
should have never been made the United States. I would
(23:13):
I would love that. Look I have a lot of
respect for this man. And I watched him come up
and essential through the ranks when he wasn't given much
of a chance, and he did. He ran a really
great That might hurt you, but no, he ran a
really great election. I thought, And yeah, something could happen,
Something could happen. Yeah, please have the top concession went
(23:34):
out of Canada, the top session out of the concession.
Friendships just I just we're going to be friends with Canada,
regardless of anything. We're going to be friends with Canada.
Canada is a very special place to make. I know
so many people that live in Canada. My parents had
relatives that lived in Canada, my mother in particular. And no,
(23:57):
I love Canada a lot of I have a lot
of respect for the Canadians. Wing Gretzky. I mean, how
the great one. You happen to have a very very
good hockey player right here on the capitals who I
have a lot of is he is a big tough
cookie too. It just broke the record and he's a
great guy. And uh, you know, we had the we
(24:17):
had the team here and I got to know a
lot of the players. But now, Canada is a very
special place. Yeah, please allowed to get here. Responsible too,
As the President of US said, canadis the first day. No, no,
well I still believe that. But but you know, it
takes two to tango, right, But no, I do. I mean,
(24:40):
I believe it would be a massive tax cut for
the Canadian citizens. Uh, you get free military, you get
tremendous medical cares and other things. There would be a
lot of advantages, but it would be it would be
a massive tax cut, and it's also a beautiful you know,
as a real estate develop you know, I'm a real
(25:00):
estate developer at heart. When you get rid of that
artificially drawing line, somebody drew that line many years ago
with like a ruler, just a straight line right across
that top of the country. When you look at that
beautiful formation when it's together, I'm a very artistic person.
But when I looked at that, bet, I said, that's
the way it was meant to be. But you know
it's I just I do feel it's much better for Canada.
(25:25):
But we're not going to be discussing that unless somebody
wants to discuss it. I think that there are tremendous
benefits to the Canadian citizens tremendously lower taxes, free military
which honestly we give you essentially anyway because we're protecting Canada.
If you have had a problem, but I think you
know it's it would really be a wonderful marriage because
(25:47):
it's it's two places. They get along very well. They
like each other a lot.
Speaker 5 (25:51):
Well if I'm a As you know from real estate,
there are some places.
Speaker 3 (25:57):
That are never for sale.
Speaker 5 (25:59):
We're sitting in one right now, you know, bucking And Palace,
and you visit it as well. And having met with
the owners of Canada over the course of the campaign
last several months, it's not for sale, won't be for
sale ever. But the opportunity is in the partnership and
what we can build together, and we have done that
(26:19):
in the past. And part of that, as the President
just said, is with respect to our own security, and
my government is committed for a step change in our
investment in Canadian security and our partnership. And I'll say
this as well, that the President has revitalized international security,
revitalized nature and us playing our full weight in NATO,
(26:42):
and that.
Speaker 3 (26:42):
Will be parts they have. I must say, Canada is
stepping up the military participation because Mark now you know
they were low and now they're stepping it up, and
that's a very important thing. But never say, never ever said.
Speaker 1 (27:00):
That every.
Speaker 3 (27:07):
Weake to get to the terrace off of Canada. Well,
we'll be talking about different things. You know, we want
to protect our automobile business, and so does Mark. But
we want to protect we want to make the automobiles
and we want to you know, we have a tremendous
abundance of energy, more than any country. We have just
in Alaska alone, and war has been reopened now and
(27:29):
was probably the largest find anywhere in the world. They
say it's larger than Saudi Arabia. I don't know, but
it's a lot. But we have tremendous amounts of energy.
Other countries don't. We're both lucky in that way. They
have energy, We have energy. We have more than we
can ever use and more than we could ever sell. Actually,
and you have the same thing. We're gonna have a
great announcement over the next few days, an announcement that
(27:51):
will be so so incredible, so positive, and I'm not
saying I don't want you to think it's necessarily and
trade just to finish. We also have a situation because
everyone says when, when, when are you going to sign deals?
We don't have to sign deals. We can sign twenty
five deals right now, Howard if we wanted, We don't
have to sign deal. They have to sign deals with us.
(28:12):
They want a piece of our market. We don't want
a piece of their market. We don't care about their market.
They want a piece of our market. So we can
just sit down and I'll do this at some point
over the next two weeks, and I'll sit with Howard
and Scott and with our great vice president who has
done a really good job. We have some good news
to report on a lot of fronts. But JD will
(28:34):
be there and Marco and we're going to sit down
and we're going to put very fair numbers down and
we're going to say here's what this country what we want,
and congratulations, we have a deal. And they'll either say
great and they'll start shopping, or they'll say not good,
we're not going to do it. I said, that's okay,
you don't have to shop. Now. We may think, well,
(28:56):
they have a right, you know that maybe we were
a little bit wrong. Will adjust it, and then you
people say, oh, it's so chaotic now, we're flexible, but
we'll sit down and we'll at some point. In some cases,
we'll sign some deals. It's much less important than what
I'm talking about. For the most part, we're just going
to put down a number and say this is what
you're going to pay to shop, and it's going to
(29:17):
be a very fair number. It'll be a low number.
We're not looking to hurt countries. We want to help countries.
We want to be friendly with countries. So I wish
it keep you stop asking how many deals are you
signing this week, because one day we'll come and we'll
give you a hundred deals and they don't have to sign.
All they have to do is say, oh, we'll start
sending our ships right now to pick up whatever we
(29:40):
want or to bring whatever we want. It's very very simple,
and I think why people haven't made it clear. We
will sign some deals, but much bigger than that is
we're going to put down the price that people are
going to have to pay to shop in the United States.
Think of us as a super luxury store, a store
that has the goods. You're gonna come and you're gonna
(30:02):
pay a price, and we're gonna give you a very
good price. We're gonna make very good deals and in
some cases we'll adjust. But that's where it is.
Speaker 1 (30:09):
All right, quick freak, We'll come right back. We'll continue
on the other side. Eight hundred and nine to four
one sewn our number and John Solomon at the top
of the hour. As we continue, the golden years are back.
Speaker 3 (30:26):
Maybe America grating again.
Speaker 4 (30:29):
Hang on, it's gonna be fun. Sean Hannity twenty twenty
five is on right now, right.
Speaker 1 (30:43):
The FBI is warning every single American and user of
popular email services even like Gmail Outlook, you've got to
be watching out for this increase in ransomware attacks. All
of us are subject to identity theft and fraud and
abuse more than three hundred figctims in this case, ransomware
across a variety of business industries. Entire industries now have
(31:06):
been targeted just in February of twenty twenty five alone. Now,
to protect yourself, your data, your good name, reputation, your finances,
you've got to use unique passwords vp ends if accessing
your information on a NA public Wi Fi, and we
all have to understand lots of places can even accidentally
(31:28):
expose your personal information and That's why LifeLock dot com exists,
because they monitor millions of data points a second for
any risk to your identity. If you do become a
victim of identity theft, they will give you a dedicated
US based restoration specialist that will fix it for you guaranteed.
(31:48):
And a neighbor might just had this happen to them
and thank god they had LifeLock anyway, protect your name,
your finances, reputation. Get LifeLock today right now. You'll save
up to forty percent off your first year. Call one
eight hundred LifeLock or go to LifeLock dot com promo
code Hannity forty percent off and protect your name, finances,
and reputation. When we come back, John Solomon on a
(32:11):
variety of breaking news issues and your calls eight hundred
ninety four one Shawn
The Sean Hannity Show News
Host
Sean Hannity
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