[Congressional Record Volume 171, Number 110 (Thursday, June 26, 2025)]
[Senate]
[Pages S3545-S3546]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                         One Big Beautiful Bill

  Mr. BARRASSO. Mr. President, I come to the floor today to talk about 
the Republican plan for American prosperity in terms of why it is so 
popular.
  That is because Republicans want to cut taxes. Democrats, they want 
to raise taxes. Republicans want to grow the economy. The Democrats, 
they want to grow the government. Republicans want to put working 
families first. Democrats continue to want to leave them behind.
  Our Republican bill stops the largest tax increase in American 
history, and

[[Page S3546]]

it means permanent tax relief. That means Americans can plan their 
futures with certainty. It means higher wages and more jobs. That means 
Americans have more money in their pockets, in their purses, and in 
their paychecks. The Council of Economic Advisers released new data 
this week. Here is what it shows: Our plan for American prosperity 
raises wages, lowers taxes, and grows the economy.
  So let me just take a second to break down the benefits: $10,000 more 
in take-home pay for American families; an extra tax cut for tipped and 
overtime workers; $6,000 bonus deductions for seniors on Social 
Security; 7 million more jobs right here in America; $100 billion in 
business investments in opportunity zones, including in rural America; 
an additional 4 percent in economic growth; more than $2 trillion in 
deficit reduction so that the next generation isn't buried in debt.
  Our plan for American prosperity will also create new savings 
accounts for every child. These tax-deferred investment accounts start 
with a $1,000 contribution. Now, those early savings will grow over 
time. By the time the child becomes an adult, he can use the money to 
pay for college, to put down a downpayment on a home, or to start a 
small business. We call these Trump accounts. Trump accounts are an 
investment in our future generation. They are financial launch pads for 
the American dream.
  Additionally, our plan for prosperity unleashes American energy. This 
will help working families who have paid for high energy costs under 
Joe Biden.
  Now let's talk about what happens if Democrats are successful in 
defeating our bold Republican agenda.
  If Democrats block this bill--and they say they are going to--taxes 
will soar; paychecks will shrink; and small businesses will get 
strangled. Every Democrat--every Democrat--in this Chamber has vowed to 
vote against our economic prosperity package. The vote of every 
Democrat in this Chamber will raise your taxes. If Democrats get their 
way, middle-class families will pay $1,700 more in taxes next year. 
Small businesses will see their taxes go up by 43 percent. The standard 
deduction, which 90 percent of taxpayers use--well, that is going to 
get cut in half; so will the child tax credit. Yet that is what the 
Democrats are fighting for: higher taxes, fewer jobs, and heavier costs 
on working families.
  Let's not forget why Democrats want to raise taxes. They want to 
continue to give free healthcare to millions of illegal immigrants.
  Republicans are fighting so that waiters, nurses, police officers, 
seniors, and families keep more of what they earn and don't continue 
this Washington wasteful spending. Our comprehensive plan for 
prosperity is going to put America back on track.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Mr. SCHUMER. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.