Director of the National Economic Council Kevin Hassett clarified mysteries surrounding the Big Beautiful Bill proposed by his boss President Donald Trump.
He was asked about the effects of the BBB on Kentucky's Medicaid recipients, rural hospitals, battery plants, and tariff challenges for local products like bourbon, soybeans, etc.
He was asked about the effects of the BBB on Kentucky's Medicaid recipients, rural hospitals, battery plants, and tariff challenges for local products like bourbon, soybeans, etc.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
You're a news right at eight forty whis Let's bring
on Kevin Hasset. He's director of the National Economic Council
for Donald Trump's second administration in the White House. Welcome Kevin,
Good have you on.
Speaker 2 (00:13):
Oh, it's great to be here. Thank you.
Speaker 1 (00:15):
Well, you just had a nice little win a federal
appeals court today temporarily agreeing to preserve many of your
tariffs that President Trump is working around the world. So first,
what's your initial response to that.
Speaker 2 (00:29):
Oh, obviously, the White House is thrilled that the appeals
court has overturned a ruling that really made no sense whatsoever.
President Trump, for example, declared an emergency because of the
fentinal crisis, a fentinal crisis that has killed more Americans
since twenty seventeen than died in every American war ever,
(00:53):
and somehow, you know, the judges decided that that's not
an emergency. President Trump declared a fentanyl emergency, for example,
had decided to put tariffs, especially on China, because the
fentanyl is either made in China and shipped here, or
the precursors that are made into fentanyl in Mexico and Canada,
you know, come from China. And so China is a
(01:15):
betting the drug trade that's killing hundreds of thousands of
Americans every year. And that's part of the reason why
we put tariffs out there, to get countries to start
to treat America fairly again. And we were highly confident
that we would win in court. And you know, it
took just a few hours for the court to enjoin
(01:37):
the previous Real League. And that's really great news for
American workers at American farmers who are being protected by
President Trump's policies.
Speaker 1 (01:44):
Yeah, I saw you on TV this morning say you
thought it was going to be fast. It really was
a quick turnaround on this, and there is Is there
a firm July ninth deadline on some of these tariffs
or can the goalpost be moved to accommodate certain negotiations.
Speaker 2 (02:01):
President Trump has the authority to do whatever he needs
to do that's in the best interest of the American people,
and he will always do that. And so if there's
no progress with a country in the negotiations, then you know,
that'll be a problem for them. But if there's progress
and it needs an extra week, then you know, my
guess is that he would give them the week that's
up to the President. He would decide. But you know,
(02:23):
hard deadlines that cause, you know, bad things to happen
are never going to be a problem with this White House.
That's what you know, government's ineffective governments do. We're an
effective government negotiating with lots of countries all at once,
and I'm highly confidence that it will close most of
the deals that we're ever going to close by the
But if somebody needs board time, I'm sure they could
ask the President for it, as Europe just did and
(02:45):
he gave them an extension.
Speaker 1 (02:47):
Are you writing heard on these tariffs? Are you the
actual person who's at the head of this deciding what
the numbers will be.
Speaker 2 (02:53):
No, President Trump is righting the hed. I'm part of
the economic team that's supporting him. I would say that
the the people that are more or most actively engaged
to this on a day to day basis are Howard
Letnick and Jamison Greer.
Speaker 1 (03:08):
Okay, I did see the president wentz yesterday when a
news reporter used the acronym taco meaning Trump always chickens out.
He answered that, but you guys must have taken that
as a pretty harsh slam.
Speaker 2 (03:21):
No, I mean this is just you know, left wing
media attacking to President Ed like the idea that you
know that he's a taco or something like that is
so ridiculous. This is a guy who got shot in
the ear, you know, was bleeding and stood up and
said fight, fight, fight. And anybody who thinks that like
some bad word is going to intimidate him doesn't understand
(03:43):
what Donald Trumps made.
Speaker 1 (03:44):
Of Kevin Hasset's with US Director of National Economic Council.
Let's talk about Kentucky a little bit too. Our governor
has been talking much about the tariffs, and then we
have two actually three elected officials who are stepping back
from what the House is pasded in terms of the
Big Beautiful Bill. So I want you to speak directly
to the constituents of Thomas Massey in Congress and both
(04:08):
of our Senators Ran Paul and Mitch McConnell, who are
wringing their hands over the Big Beautiful Bill. What do
you say to the voters who put those guys in office.
Speaker 2 (04:17):
Well, I think that what people have to understand is
that the House bill that just passed extended the Trump
tax cuts that created six five hundred dollars in extra
income for Americans in President Trump's first term, and that
if the House hadn't passed that bill, then all of
those tax reductions would have expired, and if they had expired,
(04:40):
it would have been the biggest tax hike in American history,
and it would have hurled us into recession immediately. And
so anybody who's opposed to that bill is willing to
support the largest tax hike in American history. Now that's
talking about the House bill in the Senate, I've got
to say that we've had lots of lots of productive
(05:02):
work with both senators that you mentioned in the past,
and it's very natural for senators to have strong opinions
about this part of the bill or that part of
the bill, and what the state is going to do
during the legislative process that we respect and admire is
that they're gonna, you know, work on this, work on that,
negotiate this, negotiate that, and we're highly confident that there's
(05:24):
going to be a bill that Republicans of the Senat
are going to be really happy to support, and that
that bill will be out probably by you know, a
couple of weeks, three weeks from now, and so we're
looking forward to working with the Senators Mcconalean fran on this,
and and Paul And we're sure that in the end
that the Senate bill is going to pass. We've got
(05:45):
enormous amount of support from everybody. List.
Speaker 1 (05:47):
That's right. You don't have to worry about you don't
have to worry about Massy anymore because they's already passed
in the House.
Speaker 2 (05:53):
Yeah, that's past the House. And and you know, we
respect the voters who voted for Representative Massie. We understand
that they support him, but we think on this policy
batter that he's really been dead wrong.
Speaker 1 (06:06):
In Kentucky, the governor and other Democrat leaders have really
been firing back against the potential of the Big Beautiful
Bill because they say this Commonwealth relies on massive Medicaid
funding and that Trump fans are just voting against their
own interests. So who is being prune from Medicaid in
the Big Beautiful Bill? Can we just clarify that.
Speaker 2 (06:28):
Well, what's going to happen is that the House is
going to come up with their reforms ending race broaden abuse,
and the Senate is going to come up with their
version of the reforms. They're working on it right now
and we're working closely with them, and they're big negotiated
first of the House and now in the Senate. Our
expectation is that what they put on the table and
don't put on the table will vary across the two places.
(06:51):
And we're very much one hundred percent supporters of strong Medicaid,
strong medicare We understand that there are lots of people
that rely on that, and we're looking forward to seeing
what the Senate the House decide and what they could pass.
There's a heck of a lot of waste road abuse
in the Medicaid program, which is not the one that
affects sedures, and for example, there are states that heavily
(07:13):
fund illegals to have free health care and they come
up with weird accounting tricks to do that. And ending
that kind of abuse is something that the President one
hundred percent supports. But in the end, we also want
to work with the Senate of the House to make
sure that they've got reforms to these programs that don't
(07:34):
take away healthcare from people who need it, and that
can pass from the Senate of the House so that
we have a big, beautiful bill it becomes law by
the fourth of July.
Speaker 1 (07:44):
Yeah, the Democrat governor here in Kentucky says rural hospitals
could go away because of changes that the Big Beautiful
Bill will bring.
Speaker 2 (07:51):
That's just partisan posturing. There's no way that's going to happen.
There's no one is going to do anything that's going
to cause a rural hospital to shut down.
Speaker 1 (08:00):
He's also talking about the clean energy tax credit cuts
in the BBB could massively downsize the pursuit of electric
car battery manufacturing, which could eliminate around eleven thousand jobs
here in the Commonwealth of Kentucky. We're building these battery
plants or multiple ones. But what do you say to that.
Speaker 2 (08:20):
Well, what's going on is the Senate is deciding. You know,
as you know, there are huge parts of the Green
Energy Plan that the Bide administration push that were just
completely scams. And you know, a battery plant is not
something that's a scam. And so what the House of
(08:42):
the Senator doing is they're studying the things, the terrible things,
often mindful of the fact that they were giving billion
dollar grants to nonprofits that were started a few months
before Biden left office for Greed Energy. So the amount
of scam in that space is something. It really has
to be cleaned up by the House of the Senate
and by us here in Doge and I am highly
(09:03):
confident that the people who are doing really earnest, good
work that is supported by things that have been put
in the pass, that the Senate is going to pay
close attention to their welfare.
Speaker 1 (09:15):
I'm guessing you're going to give Elon musk An a
plus on his work now that he's stepping away. But
he did say it can't be both big and beautiful
the bill.
Speaker 2 (09:25):
I disagree with you a lot about that. I've been
in the office next to him here in the White
House since January twentieth, and I have really high regard.
He's about the smartest, most clever person that I've ever met.
That's a very clever thing to say, but it's not true.
Because the bill is big and it is beautiful, and
a metric of well big and bill, those two are
(09:46):
not in dispute. But the beautiful part is a beautiful
bill is something that there'll be things that you haven't
looked at that when you look at them and say, wow,
that's really wonderful. And the bill is filled with things
like that, and one of my favorites is is that
President Trump asked the House to put it in the bill,
basically a measure that puts one thousand dollars into a
(10:10):
stock market account, just to generalize index account for every
newborn in America from now on. And so they are
about three and a half billion people we expect are
going to be bored this year. Each one of them
is going to get one thousand dollars account which they
get to hold until retirement, invested in America, and it's
going to help them have a healthier retirement. But it's
(10:31):
also going to have so many people have skin in
the game as we create this gold and age. So
so we want everybody to have skin in the game,
not just their labor, but also the capital that Americans owned.
And so when the stock market goes up, we want
everybody to benefit. And isn't it beautiful that there's this
thing that nobody's talking about where President Trump has decided
that we should create an account for every new born
(10:52):
in America from now on that puts one thousand dollars
in their account. And as to the side, I went
and looked, I was bored in nineteen sixty two, and
if we put one thousand dollars in back then and
held it through to today, it'd be worth more than
six hundred thousand dollars.
Speaker 1 (11:07):
When are we going to wrestle with big farm? I
remember the President made that joke about his fat friend
in England saying that he bought ozempic for two dollars
and it's one thousand dollars in America. Whatever you know
that's next is and are we going to tackle this
beast of why we pay so much more here than
people in other countries?
Speaker 2 (11:24):
No, one hundred percent. It's very very high on President
Trump's priority list, and right now we're in a phase
where he's making deals that are not finalized yet that
are putting Americans first and reducing American drug prices. And
you're going to see more about that soon.
Speaker 1 (11:40):
Okay, Yeah, because you said there's some deals that are
close to fruition and now you're going to get them
closed because you guys are kind of you're running on
a shot clock like a basketball game. You have to
get these things in place and then see some results
from it before the midterms get here next year. Right.
Speaker 2 (11:58):
I'm not going to say that it's even about the
mid terms. But when I brought my team here in
the White House in the first day, I wanted everybody
to understand that we have a historic opportunity to change
America for the better in a way that endures because
of President Trump's vision that you know, he got an
overwhelming amount of support from from the American people. And
(12:20):
so the bottom line is that we've got four years
to change the course of history, and every day matters,
every single day matters. The only any enemy that we
have in the end is time, because we've only got
four years, and so we every day and we grab
it with gusto and we give it everything we got
and you can see the results. You should expect these results.
Don't think that if we pass the big beautiful bill
(12:43):
then we're going to all go on vacation. President Trump
has a vision, he's got his eyes on the horizon,
and we're going to pursue it with everything we've got
all the way to the end.
Speaker 1 (12:50):
Lastest term, last thing for you, Kevin, when the dal
Jones was like ten thousand, seven hundred, you co authored
a book Dow thirty six thousand, and then a lot
of people came after you called you silly, stupid, said
you didn't know how to do math all that, and
so look at us today, what are were past forty
two thousand? What do you have to say to all
those people who questioned you?
Speaker 2 (13:10):
The people who questioned me had said negative things about it,
didn't understand the analysis, and that I never saw any
analysis that suggested that I did anything that wasn't correct.
And now the numbers have proven me right.
Speaker 1 (13:24):
Yeah, they have. Kevin, great talking to you. I appreciate
the time.
Speaker 2 (13:27):
Well, great talking to you. I hope we can do
it again, so.
Speaker 1 (13:29):
We will thank you. Thanks there, It's Kevin Hassett live
in Washington. He's director for President Trump's National Economic Council.
Back in a minute on news radio eight forty whas
You're a news right at eight forty whis Let's bring
on Kevin Hasset. He's director of the National Economic Council
for Donald Trump's second administration in the White House. Welcome Kevin,
Good have you on.
Speaker 2 (00:13):
Oh, it's great to be here. Thank you.
Speaker 1 (00:15):
Well, you just had a nice little win a federal
appeals court today temporarily agreeing to preserve many of your
tariffs that President Trump is working around the world. So first,
what's your initial response to that.
Speaker 2 (00:29):
Oh, obviously, the White House is thrilled that the appeals
court has overturned a ruling that really made no sense whatsoever.
President Trump, for example, declared an emergency because of the
fentinal crisis, a fentinal crisis that has killed more Americans
since twenty seventeen than died in every American war ever,
(00:53):
and somehow, you know, the judges decided that that's not
an emergency. President Trump declared a fentanyl emergency, for example,
had decided to put tariffs, especially on China, because the
fentanyl is either made in China and shipped here, or
the precursors that are made into fentanyl in Mexico and Canada,
you know, come from China. And so China is a
(01:15):
betting the drug trade that's killing hundreds of thousands of
Americans every year. And that's part of the reason why
we put tariffs out there, to get countries to start
to treat America fairly again. And we were highly confident
that we would win in court. And you know, it
took just a few hours for the court to enjoin
(01:37):
the previous Real League. And that's really great news for
American workers at American farmers who are being protected by
President Trump's policies.
Speaker 1 (01:44):
Yeah, I saw you on TV this morning say you
thought it was going to be fast. It really was
a quick turnaround on this, and there is Is there
a firm July ninth deadline on some of these tariffs
or can the goalpost be moved to accommodate certain negotiations.
Speaker 2 (02:01):
President Trump has the authority to do whatever he needs
to do that's in the best interest of the American people,
and he will always do that. And so if there's
no progress with a country in the negotiations, then you know,
that'll be a problem for them. But if there's progress
and it needs an extra week, then you know, my
guess is that he would give them the week that's
up to the President. He would decide. But you know,
(02:23):
hard deadlines that cause, you know, bad things to happen
are never going to be a problem with this White House.
That's what you know, government's ineffective governments do. We're an
effective government negotiating with lots of countries all at once,
and I'm highly confidence that it will close most of
the deals that we're ever going to close by the
But if somebody needs board time, I'm sure they could
ask the President for it, as Europe just did and
(02:45):
he gave them an extension.
Speaker 1 (02:47):
Are you writing heard on these tariffs? Are you the
actual person who's at the head of this deciding what
the numbers will be.
Speaker 2 (02:53):
No, President Trump is righting the hed. I'm part of
the economic team that's supporting him. I would say that
the the people that are more or most actively engaged
to this on a day to day basis are Howard
Letnick and Jamison Greer.
Speaker 1 (03:08):
Okay, I did see the president wentz yesterday when a
news reporter used the acronym taco meaning Trump always chickens out.
He answered that, but you guys must have taken that
as a pretty harsh slam.
Speaker 2 (03:21):
No, I mean this is just you know, left wing
media attacking to President Ed like the idea that you
know that he's a taco or something like that is
so ridiculous. This is a guy who got shot in
the ear, you know, was bleeding and stood up and
said fight, fight, fight. And anybody who thinks that like
some bad word is going to intimidate him doesn't understand
(03:43):
what Donald Trumps made.
Speaker 1 (03:44):
Of Kevin Hasset's with US Director of National Economic Council.
Let's talk about Kentucky a little bit too. Our governor
has been talking much about the tariffs, and then we
have two actually three elected officials who are stepping back
from what the House is pasded in terms of the
Big Beautiful Bill. So I want you to speak directly
to the constituents of Thomas Massey in Congress and both
(04:08):
of our Senators Ran Paul and Mitch McConnell, who are
wringing their hands over the Big Beautiful Bill. What do
you say to the voters who put those guys in office.
Speaker 2 (04:17):
Well, I think that what people have to understand is
that the House bill that just passed extended the Trump
tax cuts that created six five hundred dollars in extra
income for Americans in President Trump's first term, and that
if the House hadn't passed that bill, then all of
those tax reductions would have expired, and if they had expired,
(04:40):
it would have been the biggest tax hike in American history,
and it would have hurled us into recession immediately. And
so anybody who's opposed to that bill is willing to
support the largest tax hike in American history. Now that's
talking about the House bill in the Senate, I've got
to say that we've had lots of lots of productive
(05:02):
work with both senators that you mentioned in the past,
and it's very natural for senators to have strong opinions
about this part of the bill or that part of
the bill, and what the state is going to do
during the legislative process that we respect and admire is
that they're gonna, you know, work on this, work on that,
negotiate this, negotiate that, and we're highly confident that there's
(05:24):
going to be a bill that Republicans of the Senat
are going to be really happy to support, and that
that bill will be out probably by you know, a
couple of weeks, three weeks from now, and so we're
looking forward to working with the Senators Mcconalean fran on this,
and and Paul And we're sure that in the end
that the Senate bill is going to pass. We've got
(05:45):
enormous amount of support from everybody. List.
Speaker 1 (05:47):
That's right. You don't have to worry about you don't
have to worry about Massy anymore because they's already passed
in the House.
Speaker 2 (05:53):
Yeah, that's past the House. And and you know, we
respect the voters who voted for Representative Massie. We understand
that they support him, but we think on this policy
batter that he's really been dead wrong.
Speaker 1 (06:06):
In Kentucky, the governor and other Democrat leaders have really
been firing back against the potential of the Big Beautiful
Bill because they say this Commonwealth relies on massive Medicaid
funding and that Trump fans are just voting against their
own interests. So who is being prune from Medicaid in
the Big Beautiful Bill? Can we just clarify that.
Speaker 2 (06:28):
Well, what's going to happen is that the House is
going to come up with their reforms ending race broaden abuse,
and the Senate is going to come up with their
version of the reforms. They're working on it right now
and we're working closely with them, and they're big negotiated
first of the House and now in the Senate. Our
expectation is that what they put on the table and
don't put on the table will vary across the two places.
(06:51):
And we're very much one hundred percent supporters of strong Medicaid,
strong medicare We understand that there are lots of people
that rely on that, and we're looking forward to seeing
what the Senate the House decide and what they could pass.
There's a heck of a lot of waste road abuse
in the Medicaid program, which is not the one that
affects sedures, and for example, there are states that heavily
(07:13):
fund illegals to have free health care and they come
up with weird accounting tricks to do that. And ending
that kind of abuse is something that the President one
hundred percent supports. But in the end, we also want
to work with the Senate of the House to make
sure that they've got reforms to these programs that don't
(07:34):
take away healthcare from people who need it, and that
can pass from the Senate of the House so that
we have a big, beautiful bill it becomes law by
the fourth of July.
Speaker 1 (07:44):
Yeah, the Democrat governor here in Kentucky says rural hospitals
could go away because of changes that the Big Beautiful
Bill will bring.
Speaker 2 (07:51):
That's just partisan posturing. There's no way that's going to happen.
There's no one is going to do anything that's going
to cause a rural hospital to shut down.
Speaker 1 (08:00):
He's also talking about the clean energy tax credit cuts
in the BBB could massively downsize the pursuit of electric
car battery manufacturing, which could eliminate around eleven thousand jobs
here in the Commonwealth of Kentucky. We're building these battery
plants or multiple ones. But what do you say to that.
Speaker 2 (08:20):
Well, what's going on is the Senate is deciding. You know,
as you know, there are huge parts of the Green
Energy Plan that the Bide administration push that were just
completely scams. And you know, a battery plant is not
something that's a scam. And so what the House of
(08:42):
the Senator doing is they're studying the things, the terrible things,
often mindful of the fact that they were giving billion
dollar grants to nonprofits that were started a few months
before Biden left office for Greed Energy. So the amount
of scam in that space is something. It really has
to be cleaned up by the House of the Senate
and by us here in Doge and I am highly
(09:03):
confident that the people who are doing really earnest, good
work that is supported by things that have been put
in the pass, that the Senate is going to pay
close attention to their welfare.
Speaker 1 (09:15):
I'm guessing you're going to give Elon musk An a
plus on his work now that he's stepping away. But
he did say it can't be both big and beautiful
the bill.
Speaker 2 (09:25):
I disagree with you a lot about that. I've been
in the office next to him here in the White
House since January twentieth, and I have really high regard.
He's about the smartest, most clever person that I've ever met.
That's a very clever thing to say, but it's not true.
Because the bill is big and it is beautiful, and
a metric of well big and bill, those two are
(09:46):
not in dispute. But the beautiful part is a beautiful
bill is something that there'll be things that you haven't
looked at that when you look at them and say, wow,
that's really wonderful. And the bill is filled with things
like that, and one of my favorites is is that
President Trump asked the House to put it in the bill,
basically a measure that puts one thousand dollars into a
(10:10):
stock market account, just to generalize index account for every
newborn in America from now on. And so they are
about three and a half billion people we expect are
going to be bored this year. Each one of them
is going to get one thousand dollars account which they
get to hold until retirement, invested in America, and it's
going to help them have a healthier retirement. But it's
(10:31):
also going to have so many people have skin in
the game as we create this gold and age. So
so we want everybody to have skin in the game,
not just their labor, but also the capital that Americans owned.
And so when the stock market goes up, we want
everybody to benefit. And isn't it beautiful that there's this
thing that nobody's talking about where President Trump has decided
that we should create an account for every new born
(10:52):
in America from now on that puts one thousand dollars
in their account. And as to the side, I went
and looked, I was bored in nineteen sixty two, and
if we put one thousand dollars in back then and
held it through to today, it'd be worth more than
six hundred thousand dollars.
Speaker 1 (11:07):
When are we going to wrestle with big farm? I
remember the President made that joke about his fat friend
in England saying that he bought ozempic for two dollars
and it's one thousand dollars in America. Whatever you know
that's next is and are we going to tackle this
beast of why we pay so much more here than
people in other countries?
Speaker 2 (11:24):
No, one hundred percent. It's very very high on President
Trump's priority list, and right now we're in a phase
where he's making deals that are not finalized yet that
are putting Americans first and reducing American drug prices. And
you're going to see more about that soon.
Speaker 1 (11:40):
Okay, Yeah, because you said there's some deals that are
close to fruition and now you're going to get them
closed because you guys are kind of you're running on
a shot clock like a basketball game. You have to
get these things in place and then see some results
from it before the midterms get here next year. Right.
Speaker 2 (11:58):
I'm not going to say that it's even about the
mid terms. But when I brought my team here in
the White House in the first day, I wanted everybody
to understand that we have a historic opportunity to change
America for the better in a way that endures because
of President Trump's vision that you know, he got an
overwhelming amount of support from from the American people. And
(12:20):
so the bottom line is that we've got four years
to change the course of history, and every day matters,
every single day matters. The only any enemy that we
have in the end is time, because we've only got
four years, and so we every day and we grab
it with gusto and we give it everything we got
and you can see the results. You should expect these results.
Don't think that if we pass the big beautiful bill
(12:43):
then we're going to all go on vacation. President Trump
has a vision, he's got his eyes on the horizon,
and we're going to pursue it with everything we've got
all the way to the end.
Speaker 1 (12:50):
Lastest term, last thing for you, Kevin, when the dal
Jones was like ten thousand, seven hundred, you co authored
a book Dow thirty six thousand, and then a lot
of people came after you called you silly, stupid, said
you didn't know how to do math all that, and
so look at us today, what are were past forty
two thousand? What do you have to say to all
those people who questioned you?
Speaker 2 (13:10):
The people who questioned me had said negative things about it,
didn't understand the analysis, and that I never saw any
analysis that suggested that I did anything that wasn't correct.
And now the numbers have proven me right.
Speaker 1 (13:24):
Yeah, they have. Kevin, great talking to you. I appreciate
the time.
Speaker 2 (13:27):
Well, great talking to you. I hope we can do
it again, so.
Speaker 1 (13:29):
We will thank you. Thanks there, It's Kevin Hassett live
in Washington. He's director for President Trump's National Economic Council.
Back in a minute on news radio eight forty whas
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