Speaker Johnson joins Bloomberg Surveillance
For Immediate Release
June 5, 2025
Contact: Taylor Haulsee
WASHINGTON — This morning, Speaker Johnson joined Annmarie Hordern on Bloomberg TV’s Bloomberg Surveillance to dispel myths about the One Big Beautiful Bill Act and discuss the House and Senate working together to send the final product to President Trump’s desk by July 4th.
Watch the full interview here
On falsehoods surrounding the One Big Beautiful Bill Act:
I think there’s a lot of confusion out there about what the legislation is, and there’s certainly a lot of misinformation. The Democrats have been engaged in this strategy for many, many weeks and months. But remember, it took us over a year to develop this piece of legislation. We have 11 different committees in the House, all the areas of jurisdiction that worked on the reconciliation effort to reconcile the budget. What we’re going to deliver here, again, is historic tax relief and savings.
At the same time, if we do not get this bill done, the tax cuts of 2017, the Tax Cuts and Jobs Act, will expire at the end of December. Every American will receive the largest tax increase in US history all at once. It’ll be devastating for the economy, so we’ve addressed that here. We’ve made the tax cuts permanent, and we’ve infused it with a pro-growth series of policies that will get the economy going again. It will be jet fuel to the economy because we’re going to reduce wasteful spending. We’re going to reduce taxes, and we’re going to reduce regulations as well, which is what will allow job creators and the energy sector and everyone else to get going again.
On the difference between budget reconciliation and appropriations:
I think everybody on Capitol Hill understands that this is not a spending bill. This is a budget reconciliation bill. And what we’re doing here is delivering the America First agenda. This is all the President’s priorities and all the priorities of the Republican Party. Everything we promised the American people, that is what we are delivering with this piece of legislation, and the reason we’re using the reconciliation process is because this is the only way to get around the 60-vote threshold in the Senate. Everybody probably recognizes Chuck Schumer and the Democrats are in no mood and not going to be helpful in delivering President Trump’s agenda for the people.
On working with the Senate:
Remember, it took us over a year to develop this piece of legislation. We have 11 different committees in the House, all the areas of jurisdiction that worked on the reconciliation effort to reconcile the budget. What we’re going to deliver here, again, is historic tax relief and savings at the same time. If we do not get this bill done the tax cuts of 2017, the Tax Cuts and Jobs Act, will expire at the end of December. Every American will receive the largest tax increase in US history all at once. It’ll be devastating for the economy, so we’ve addressed that here. We’ve made the tax cuts permanent, and we’ve infused it with a pro-growth series of policies that will get the economy going again. It will be jet fuel to the economy because we’re going to reduce wasteful spending. We’re going to reduce taxes, and we’re going to reduce regulations as well, which is what will allow job creators and the energy sector and everyone else to get going again.
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