[Congressional Record Volume 171, Number 131 (Wednesday, July 30, 2025)]
[Senate]
[Page S4858]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                   Recognition of the Minority Leader

  The Democratic leader is recognized.
  Mr. SCHUMER. Mr. President, so this morning, we got more worrying 
news showing how Donald Trump's administration is raising costs, sowing 
chaos in the economy. The New York Times headline put it succinctly: 
``U.S. Economy Slowed in First Half of 2025 as Tariffs Scrambled 
Data.''
  And while the Trump administration will try to wave rosy headlines 
about the Q2 numbers, today's GDP number is, in fact, a mirage because 
some ominous numbers lurk under the hood. Business investment plunged 
in the second quarter by 3.1 percent.
  The fact that business investment plunged so starkly is very 
troubling. It shows that, already, businesses are worried about growing 
their operations, worried about hiring more workers, worried about 
trading with their international partners, and worried in general about 
the future.
  And this number is another data point in a larger pattern. Donald 
Trump's tariffs are weighing down the U.S. economy, spiking costs for 
small businesses and families alike. And if Donald Trump keeps up the 
chaos, the dangers for the economy will continue to get worse.