The Big Beautiful Law blocks tax hikes, increases Child Tax Credit

Congressman Mike Carey breaks down how the new law helps seniors, farmers, parents, low-income families

Episode Transcript

Speaker 1 (00:00):
I want to go over to the Legacy Retirement Group
dot com phone line. Welcome in Congress Span Mike Carry,
Ohio's fifteenth district Congressman, Good morning.

Speaker 2 (00:07):
You're so generous with your time to spend with us.
How are you this morning?

Speaker 3 (00:10):
I'm great, Mike.

Speaker 2 (00:11):
How are you doing fantastic?

Speaker 1 (00:13):
I do want to talk about the big, beautiful bill
which is now the law of the land, and get
some behind the scenes there on your vote from last
week and what happens next in just a moment, but
I mean one of the big stories of the day.
The top story continues to be the tragedy and devastation
in Central Texas. Now one hundred and ten plus deaths
and over one hundred and seventy people still missing in

(00:34):
Central Texas due to the flash flooding there. You never know, Mike,
when tragedy and devastation will hit your district and in
what shape or form that comes in. Have you had
any conversations with your counterparts there in Central Texas well?

Speaker 3 (00:47):
One of my dear friends in Congress is a guy
named August Slueger, and August had two of his daughters
that were actually at the camp and just the heart
wrenching stories that they heard. Now, one of his daughter
was I believe she's a senior. I've met both of them,
and one of them was up on the hill and
was at a very safe place. The other, you know,
had to go through what a lot of those young

(01:09):
people do. And you know, I know that they know
those people personally. Some of my other colleagues, you know,
they've all rushed out there, and I know the president,
I believe some of the cabinet members are going to
be headed there this Friday to look at the damage.
So yeah, I'll sell you. It's very reminiscent for many
of your listeners that remember back in the nineteen nineties.
Nineteen ninety we had a very similar not quite as extensive,

(01:33):
but it was very extensive in Shadyside, Ohio. That was
one of those once in a lifetime type of flooding
situations that went from Buigi Creek all the way down
to the Ohio River. So we've seen tragedies like this
in Ohio, but not to this extent. But you know,
my prayers, I know my wife's prayers are with the
people and the families that we know that have been

(01:54):
affected by this, and there's just countless stories of bravery
and God speed to them.

Speaker 1 (02:00):
Absolutely absolutely devastating there, and we hope that those folks
can recover and get back on track as soon as
humanly possible there. So congratulations, got the bill over the
finish line last week. Wildly well done. I know it
was a long couple of days for you. Take us
behind the scenes there and starting with what was Hakeem

(02:20):
Jefferies doing on what was that the Thursday before or
the Wednesday before?

Speaker 3 (02:26):
Yeah, I mean we always knew that, you know, he
was gonna you know, he was going to make that
play at the end. I mean, this is something that
both parties do. We knew that that was going to happen.
It was the negotiations that led up to that point
that really took a long time. And I you know,
I think many me and many of my colleagues, we
were up maybe up for almost thirty six hours trying

(02:48):
to get this thing over to the finish line. So
you know, when Jeffrey spoke, and I know the speaker
spoke a lot less, he brought out a folder. I
think he came to the fore and brought out a
Folderjeffrey's head and everybody laugh because he knew he wasn't
going to read all of the things that have But
in the end we got it done. You know, is
it a perfect bill? It is the best that I

(03:10):
think we could get with the time and working with
all the people that we had to work with. Listen,
I think it does a lot of great things. And
if you want me to go into some of those things,
because I think in the end it really does help
workers and families and seniors, farmers, small business really to
get the tax relief that they need. So this has

(03:32):
been a signature promise that many of us were elected
to get done. And listen, I think it's going to
be good for not only Central While, but it's going
to be good for the entire state of a lot.

Speaker 1 (03:41):
I tend to agree with you, a Congressman Mike Harry,
Ohio's fifteenth district, And you asked the question, is it
a perfect bill?

Speaker 2 (03:49):
No, there's no such thing. There.

Speaker 1 (03:50):
There's more good in it, in my opinion, than there
is to be critical of. Do you think you have
to come home and when you have a chance to
get back to the district, Congressman and Elvis, to your constituents.

Speaker 3 (04:02):
Yeah, you know we and actually I am home because
of the the because we were you know, we had
such a long week last week trying to get this
over the finish line. So we have been you know,
we've been talking about the things. I think the bottom
line for everybody that is listening, and I think everybody
understands this. If we had done nothing, if we had

(04:24):
done nothing to get this to pass, this thing, this
would have been the largest single tax increase in American history.
So let's put it in perspective for people that live
and work in Ohio's fifteenth congressional district, and I think
it's you know, the same for most of the congressional
districts across the state. But say that the meeting House
cold income, they would essentially have seen a twenty three

(04:48):
percent tax hike if we had not passed this bill,
and some of the other things for people that are
driving you to work and they have children. In the
Senate version that we ultimately passed, they made the child
tax credit go up to two thousand, two hundred dollars
per child. And not only that, but in this bill,

(05:09):
we tied it to the growth of inflation, so that
means that the value will never decrease over time. Now,
if we had done nothing, we had done nothing, the
child tax credit would have went down to one thousand
dollars per child by the end of twenty twenty five.
So that's a big difference for working families now, you know,

(05:29):
and talking about the eliminating of tips, you know, taxes
on tips and wages, this is something that we promised.
It eliminates the taxes on overtime. And one of the
things that I was really excited about and I worked
with the AARP on this. We had a version in
the House soup because of our spending limits, gave a
tax credit to seniors of only four thousand dollars tax credit,

(05:53):
but in the Senate we were able to get that
up to six thousand. And the beauty of that is,
I mean, we're we expanded that over two thousand dollars more.
So that's the bill that we pass. Six thousand dollars
credit for seniors. And not to mention, you know, the
deducting of interest on car loans for new cars made
in America. But you know, for our farmers, you know,

(06:13):
the folks that are all around Central Ohio. Two million
family farmers would have otherwise seen their limitations cut in half.
So this ensures that our family owned farms can be
passed down to the next generation. So there's so many
good things in this bill, I mean. And for those
that are concerned with the border, like I am, this
provides over one hundred and seventy five billion for border

(06:37):
security measures. Now, this includes hiring new immigration enforcement officials,
purchasing more equipment, and constructing those new physical border barriers
that we desperately need. And of course the thing that
everybody talks about, but it is very important. This does
preserve and protect Medicaid for American citizens. It establishes common

(06:58):
sense work requirements for able bodied adults without young dependents. Listen,
it strengthens the program to serve the most vulnerable Americans.
So in the end, I mean, for businesses, the R
and D tax credit, lie tech, you know, for low
income housing, it makes it permanent. I mean, these are
some very good things in this bill. And I think, listen,

(07:20):
it was a very partisan, you know, in terms of
the vote, but I think in the end, I think
there were many pieces and parts that were very bipartisan
that I think everybody can agree with.

Speaker 1 (07:29):
Yeah, the Medicaid obviously the biggest sticking point, but it's
just holding people accountable.

Speaker 2 (07:34):
We're kind of done with people like, yeah.

Speaker 3 (07:38):
Let's talk about that, because I think that's very very important.
You know, people are saying this bill ensures that this
program is preserved for Americans in the future. And the
other thing it does is establishes a fifty billion rural
rural transformation program to support our rural health. So if
you look at a state like Ohio, it's projected to

(07:58):
get over five hundred million dollars over the next five
years to support our rural health systems. So when we
talk about the work requirements, what are those work requirements?
And I want everybody that's driving in to listen to this.
Those work requirements mean you must be a student, okay,
Or you're looking for work, or you're working twenty hours per.

Speaker 2 (08:21):
Week it's a part time job. That's a part time job.

Speaker 3 (08:23):
Yeah, or volunteering twenty hours a week for Medicaid benefits.
I mean, these are very modesty, very sensible policy. So
I think in the end, when people really look at
the details that are within the bill, I think they
will like it.

Speaker 1 (08:39):
I think their common sense asks in embedded there in
medicare speaking with Congressman Mike Kerry, Ohio fifteenth district Congressman.

Speaker 2 (08:46):
And the reason I bring up when I asked.

Speaker 1 (08:48):
You if you need to sell this to the people
in your district, your constituencies. We all remember what happened
in twenty ten after Obamacare was passed.

Speaker 2 (08:56):
There was immediate backlash.

Speaker 1 (08:58):
Democrats lost sixty three House seats after that, Republicans I
think gained six seats in the Senate in the midterms.
So you know, we are now looking ahead to twenty
twenty six midterms and what could potentially happen as a
backlash because of some of this.

Speaker 3 (09:12):
Well, look, I think you have to you have to
go out and you have to talk to your constituents.
And I will tell you the one thing that I've
seen is that there are a lot of people that
a lot of special interest groups that make a lot
of money off of saying that this is you know this,
this is bad and you need to support our cause.
But I think in the end, I mean, we just

(09:34):
had you know, we have, We've had. You can always
tell when they're push calls, because people will call and say, hey,
call and complain about this, But when you really go
through the details that are within the bill. I think
people really understand it. And so yeah, I mean, I'm
not sure that you're going to see that wave of
twenty ten because I remember that way yet. But I

(09:55):
think what you know, and I think showing what we're
trying to do, and I do believe that, you know,
the Speaker has mentioned that we may do another reconciliation
package even yet this year. So there are a lot
of things that you can do in reconciliation, but there
are a lot of things that you can't, and so
we might see another reconciliation package by the end of
the year. My hope is that what we do is

(10:16):
we get into the appropriations process as soon as we
get back and those those are some very important things
I think for not only Central Ohio but all of
a lot.

Speaker 1 (10:25):
Well, we're lucky to have you in the job you
are in. Congressman Mike Rry, Ohio fifteenth District. Thank you
for the time this morning. We'll check in a couple
of weeks.