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Sen. Bernie Sanders (I-Vt.) gave the following remarks Wednesday on the floor of the U.S. Senate on the Inflation Reduction Act, calling on his colleagues to study the bill thoroughly and to come up with amendments and suggestions as to how to improve it in order to meet the needs of the American people.
Sanders' remarks, as prepared for delivery, are below and can be watched here.
Sen. Bernie Sanders (I-Vt.) gave the following remarks Wednesday on the floor of the U.S. Senate on the Inflation Reduction Act, calling on his colleagues to study the bill thoroughly and to come up with amendments and suggestions as to how to improve it in order to meet the needs of the American people.
Sanders' remarks, as prepared for delivery, are below and can be watched here.
M. President: My understanding is that the so-called "Inflation Reduction Act" may be coming to the floor in the coming days.
There are some people who think this bill is worth supporting. There are others who think that it is not. But, whatever your views on this bill may be, let's be clear: As currently written, this is an extremely modest bill that does virtually nothing to address the enormous crises facing the working families of our country. It falls far short of what the American people want, what they need, and what they are begging us to do.
Given that this is the last reconciliation bill that we will be considering this year, it is the only opportunity that we have to do something significant for the American people that requires only 50 votes and that cannot be filibustered. This is an opportunity that must not be squandered.
M. President: Let's take a brief look at what is going on in this country today and see whether this reconciliation bill adequately addresses the needs of the American people.
Half of our people live paycheck to paycheck and because of inflation are falling even further behind in their desperation. Does this reconciliation bill raise the minimum wage? No.
Does it provide workers the protections they need in order to form unions? No.
M. President: At a time when the United States has the highest rate of childhood poverty of almost any major nation on earth, does this bill extend the $300 a month per child tax credit that existed last year? No, it doesn't.
If you are a parent today paying $15,000 a year for childcare, the average cost in America, does this bill reform our dysfunctional childcare system, make it affordable, and pay childcare workers decent wages? No, it doesn't.
At a time when over 70 million Americans are uninsured or under-insured, when we pay twice as much for health care as the people of almost any other major nation, when some 60,000 people a year die because they cannot afford to go to a doctor when they need to, does this bill do anything to create a rational, cost-effective health care system which guarantees health care for all - something that exists in almost every other major nation? No, it doesn't.
At a time when 45 million Americans are struggling to pay student debt and when hundreds of thousands of bright young people every year are unable to afford a higher education, does this bill do anything to help them? No, it doesn't.
M. President: 55% of senior citizens are trying to survive on an income of $25,000 a year or less. Many of them cannot afford to go to a dentist or buy the hearing aids or eyeglasses that they need, does this bill do anything to expand Medicare to cover their basic healthcare needs? No, it doesn't.
And when we talk about our seniors and disabled Americans, does this bill do anything to help the millions of them who would prefer to stay in their homes rather than be forced into nursing homes? No, it doesn't.
Everybody agrees that we have a major housing crisis in this country. Some 600,000 people are homeless sleeping out on streets across the country. In addition, nearly 18 million households are spending an incredible 50 percent of their incomes for housing. Does this bill do anything to address the major housing crisis that we face? No, it doesn't.
M. President: We don't talk about it much here in the Senate or in the corporate media, but at this moment in American history, we have more wealth and income inequality than at any time in the last 100 years with 3 people owning more wealth than the bottom half of American society, with the top 1% owning more wealth than the bottom 92%, with 45% of all new income going to the top one percent, and with CEOs of large corporations making 350 times more than their average workers.
M. President: Today, we have more concentration of ownership than at any time in the modern history of this country. In sector after sector, we have a handful of giant corporations often engaging in price-fixing who control what is produced and how much we pay for it. In fact, unbelievably, 3 Wall Street firms control assets of over $20 trillion and are the major stockholders in 96% of S&P 500 companies. Does this bill do anything to attack this enormous concentration of ownership and maker the economy more competitive? No, it doesn't.
Now, M. President, let me say a few words about what is in this legislation, a bill which has some good features, but also some very bad features.
Prescription Drugs
The good news, M. President, is that the reconciliation bill finally begins to address the outrageous price of some of the most expensive prescription drugs under Medicare.
Under this legislation, Medicare, for the first time in history, would be able to negotiate with the pharmaceutical industry to lower drug prices.
M. President: The bad news is that we will not see the impact of these negotiated prices until 2026 - four years from now.
The bad news is that, for whatever reason, in 2026, only 10 drugs would be negotiated with more to come in later years.
Moreover, with the possible exception of insulin, this bill does nothing to lower prescription drug prices for anyone who is not on Medicare.
Under this bill, at a time when the pharmaceutical companies are making outrageous profits, the pharmaceutical industry will still be allowed to charge the American people, by far, the highest prices in the world for prescription drugs.
M. President, if we are really serious about reducing the price of prescription drugs, we know exactly how we can do it.
For over 30 years, the VA has been negotiating with the pharmaceutical industry to lower the price of prescription drugs. Moreover, for decades, virtually every major country on Earth has done exactly the same thing for all of their people.
The result: Medicare pays twice as much for the exact same prescription drugs as the VA, and Americans, in some cases, may pay ten times as much for a particular drug as the people of any major country on Earth.
In other words, when it comes to reducing the price of prescription drugs under Medicare - we don't have to reinvent the wheel.
We could simply require Medicare to pay no more for prescription drugs than the VA.
And, M. President, if we did that, we could literally cut the price of prescription drugs under Medicare in half in a matter of months, not years. In February, I introduced legislation with Senator Klobuchar that would accomplish that goal.
Under that legislation, we could save Medicare $900 billion over the next decade. That is nine times more savings than the rather weak negotiation provision in this bill. And, by the way, that money could be used to add comprehensive dental, vision and hearing benefits to every senior in America. It could be used to lower the Medicare eligibility age to at least 60. And it could be used to extend the solvency of Medicare.
And that is why I will be introducing an amendment to make sure that Medicare pays no more for prescription drugs than the VA.
Affordable Care Act
Moreover, M. President, this legislation will extend subsidies for some 13 million Americans who have private health insurance plans as a result of the Affordable Care Act over the next three years. Without this provision, millions of Americans would see their premiums skyrocket and some 3 million Americans could lose their health insurance altogether. This is a good provision, but let's not fool ourselves. The $64 billion cost of this provision will go directly into the pockets of private health insurance companies that made over $60 billion in profits last year and paid their executives exorbitant compensation packages.
It would also do nothing to help the more than 70 million Americans who are uninsured or under-insured and it would do nothing to reform a dysfunctional healthcare system that is designed not to make people well, but to make the stockholders of private health insurance companies extremely rich.
Climate Change
Now, M. President, this legislation also provides $370 billion over the next decade to combat climate change and to invest in so-called energy security programs.
The good news is that if this legislation is signed into law it would provide far more funding for energy efficiency and sustainable energy than has ever been invested before.
Given the existential crisis that we face this is not enough, but it is a step forward.
It provides serious funding for wind, solar, batteries, heat pumps, electric vehicles, energy efficient appliances and low-income communities that have born the brunt of climate change.
However, M. President, the bad news is that this legislation includes a huge giveaway to the fossil fuel industry - both in the reconciliation bill itself and in a side deal that was just made public the other day.
Under this legislation, the fossil fuel industry will receive billions of dollars in new tax breaks and subsidies over the next 10 years - on top of the $15 billion in tax breaks and corporate welfare that they already receive every year.
In my view, if we are going to make our planet healthy and habitable for future generations, we cannot provide billions of dollars in new tax breaks to fossil fuel companies that are destroying the planet. On the contrary, we should end all of the massive corporate welfare that the fossil fuel industry already enjoys.
Under this legislation, up to 60 million acres of public waters must be offered up for sale each and every year to the oil and gas industry before the federal government could approve any new offshore wind development. To put this in perspective, 60 million acres is the size of Michigan.
M. President let me read to you the headline that appeared in a July 29th article in Bloomberg: "Exxon Loves What Manchin Did for Big Oil in $370 Billion Deal."
According to Bloomberg, the CEO of Exxon Mobil called the reconciliation bill "a step in the right direction" and was "pleased" with the "comprehensive set of solutions" included in the reconciliation bill.
Barrons recently reported that Exxon Mobil, Chevron, and Occidental Petroleum are just a few of the fossil fuel companies that could benefit the most under this bill.
Now, M. President, if the CEO of Exxon Mobil, a company that has done as much as any to destroy this planet, is "pleased" with this bill then I think all of us should have some very deep concerns about what is in this legislation.
Further, under this bill, up to 2 million acres of public lands must be offered up for sale each and every year to the oil and gas industry before leases can move forward for any renewable energy development on public lands.
In total, this bill will offer the fossil fuel industry up to 700 million acres of public lands and waters to oil and gas drilling over the next decade - far more than the oil and gas industry could possibly use.
And, M. President, that's not all. The fossil fuel industry will not just benefit from the provisions in the reconciliation bill. A deal has also been reached to make it easier for the fossil fuel industry to receive permits for their oil and gas projects.
This deal would approve the $6.6 billion Mountain Valley Pipeline - a fracked gas pipeline that would span 303 miles from West Virginia to Virginia, and potentially on to North Carolina.
This is a pipeline that would generate emissions equivalent to that released by 37 coal plants or by over 27 million cars each and every year.
M. President, let me quote from a July 29th letter from over 350 environmental organizations including the Sunrise Movement, Food and Water Watch, 350.ORG and the Climate Justice Alliance addressed to the President and the Senate Majority Leader expressing concerns about this bill:
"Any approval of new fossil fuel projects or fast-tracking of fossil fuel permitting is incompatible with climate leadership. Oil, gas and coal production are the core drivers of the climate and extinction crises. There can be no new fossil fuel leases, exports, or infrastructure if we have any hope of preventing ever-worsening climate crises, catastrophic floods, deadly wildfires, and more-all of which are ripping across the country as we speak. We are out of time. Therefore, we're calling on you to fulfill your promise to lead on climate, starting with denying approvals for the Mountain Valley Pipeline, rejecting all new federal fossil fuel leases onshore, in the Gulf of Mexico, in Alaska, and everywhere else, and preventing any fast-tracked permits for fossil fuel projects."
M. President: I ask Unanimous Consent to insert this full letter into the record.
And here is what the Center for Biological Diversity had to say on this bill: "This is a climate suicide pact. It's self-defeating to handcuff renewable energy development to massive new oil and gas extraction. The new leasing required in this bill will fan the flames of the climate disasters torching our country, and it's a slap in the face to the communities fighting to protect themselves from filthy fossil fuels."
In my view, we have got to do everything possible to take on the greed of the fossil fuel industry, not give billions of dollars in corporate welfare to an industry that has been destroying our planet.
And, I will be introducing an amendment to do just that.
Tax Reform
Finally, M. President, at a time of massive income and wealth inequality; at a time of soaring corporate profits; and at a time in which we have a broken tax system riddled with all kinds of loopholes for the rich and the powerful, this bill makes a few modest changes to reform the tax code.
Under this bill, corporations will be required to pay a minimum tax of 15%. That is the good news. The American people are sick and tired of companies like AT&T, Federal Express and Nike making billions of dollars in profits and paying nothing in federal income tax. This provision has been estimated to raise $313 billion over the next decade.
Further, under this bill, the IRS will finally begin to receive the funding that it needs to audit wealthy tax cheats. Each and every year, the top 1 percent are able to avoid paying more than $160 billion in taxes that they legally owe because the IRS does not have the resources they need to conduct audits of the extremely wealthy. This bill begins to change that.
This bill would also make very modest changes to the so-called carried interest loophole that has allowed billionaire hedge fund managers on Wall Street to pay a lower tax rate than a nurse, teacher or firefighter.
But the bad news is that this bill does nothing to repeal the Trump tax breaks that went to the very wealthy and large corporations. Trump's 2017 tax bill provided over a trillion dollars in tax breaks to the top one percent and large corporations. In fact, 83% of the benefits of the Trump tax law are going to the top 1% - and this bill repeals none of those benefits.
And M. President, let's not forget. It is very likely that Congress will be doing a so-called tax extenders bill at the end of the year that could provide corporations up to $400 billion over the next decade in new tax breaks. If that occurs that would more than offset the $313 billion in corporate revenue included in this bill.
So that, M. President is where we are today. We have legislation which unlike the original Build Back Better plan ignores the needs of working families in childcare, Pre-K, the expansion of Medicare, affordable housing, home healthcare, higher education, and many other desperate needs.
This is legislation which, at a time of massive profits for the pharmaceutical industry, and when we pay by far the highest prices in the world for prescription drugs, takes some very modest steps to lower or control the price of medicine.
This is legislation which has some good and important provisions pertaining to energy efficiency and sustainable energy, but, at the same time, provides massive giveaways to the fossil fuel industry whose emissions are destroying the planet.
This is legislation which appropriately ends the absurdity of large, profitable corporations paying nothing in federal income tax but, at the same time, leaves intact virtually all of Trump's tax breaks for the wealthy and very large corporations.
M. President this more than 700-page bill after months of secret negotiations became public late last week. Now is the time for every member of the Senate to study this bill thoroughly and to come up with amendments and suggestions as to how we can improve it.
I look forward to being part of that process.
"There must be accountability for this administration's dangerous disregard for our national security," said one Democratic congressman and former military prosecutor.
U.S. National Security Adviser Mike Waltz and members of his staff have created at least 20 group chats on the encrypted messaging app Signal to coordinate official work on sensitive policy issues around the world, four people who were added to such groups told Politico.
Waltz was already under fire for a group chat about the U.S. bombing Yemen when the report broke. Politico's Dasha Burns wrote on Wednesday that "none of the four individuals said they were aware of whether any classified information was shared, but all said that posts in group chats did include sensitive details of national security work."
The anonymous sources told Politico that the group chats involved policy issues involving China, Ukraine, Gaza, the Middle East, Europe, and Africa. One of them said, "It was commonplace to stand up chats on any given national security topic," one of the four sources told the outlet.
The Politico article comes a day after The Washington Postreported that Waltz and other members of President Donald Trump's National Security Council conducted official government business via their personal Gmail accounts, which are far less secure than Signal chats.
The fresh revelations also come as "Signalgate"—in which Waltz, Defense Secretary Pete Hegseth, and other top Trump administration officials added a journalist to a Signal group chat about plans to bomb Yemen—still smolders.
Calls for Waltz's resignation or firing, which were already numerous in the wake of Signalgate, mounted Wednesday.
Resign.
[image or embed]
— Senator Ed Markey ( @markey.senate.gov) April 2, 2025 at 2:26 PM
"Waltz must resign. Hegseth must resign," Rep. Ted Lieu (D-Calif.), a member of the House Foreign Affairs Committee, said on the social media site Bluesky. "There must be accountability for this administration's dangerous disregard for our national security."
Referring to the Signal group chats, Rep. Jimmy Gomez (D-Calif.) asked on the social media site X, "How many more are there?"
"Even Trump allies say this doesn't pass the smell test," he added. "National Security Adviser Waltz and Pete Hegseth need to be fired."
"He's taking a sledgehammer to the economy and pursuing unpopular, reckless trade policies that will do nothing to benefit workers and only serve to increase costs for consumers," warned one expert.
After U.S. President Donald Trump announced long-anticipated sweeping tariffs at the White House Rose Garden on Wednesday, economists, labor leaders, American lawmakers, and other critics reiterated that the move will negatively impact people worldwide.
The president revealed that on April 5, he will impose a 10% tariff on all imported goods and additional penalties for dozens of countries, including major trading partners—ignoring warnings that, as Jeffrey Sachs wrote in a Common Dreams opinion piece, his "tariffs will fail to close the trade and budget deficits, raise prices, and make America and the world poorer."
Trump's related executive order states that he finds "that underlying conditions, including a lack of reciprocity in our bilateral trade relationships, disparate tariff rates and nontariff barriers, and U.S. trading partners' economic policies that suppress domestic wages and consumption, as indicated by large and persistent annual U.S. goods trade deficits, constitute an unusual and extraordinary threat to the national security and economy of the United States."
The order adds that the "threat has its source in whole or substantial part outside the United States in the domestic economic policies of key trading partners and structural imbalances in the global trading system," and declares a national emergency.
NBC Newsreported Wednesday that "global markets reacted sharply and swiftly... with investors fleeing U.S. stock indexes and companies that rely on global supply chains seeing their stocks plummet." The outlet noted that Dan Ives, an analyst at the investment firm Wedbush Securities, wrote, "President Trump just finished his tariff speech at the White House and we would characterize this slate of tariffs as 'worse than the worst case scenario' the street was fearing."
Trump framed this step in his trade war as "liberation day" and claimed that the duties are "reciprocal," but economists pushed back. Justin Wolfers at the University of Michigan said: "Trump announces his tariffs, which are (somehow?) related to the trade barriers other countries are imposing on the U.S. But... THE NUMBERS HE'S PRESENTING BEAR NO RELATION TO REALITY. It would be absurd to call these reciprocal tariffs. They're grievances."
Groundwork Collaborative executive director Lindsay Owens
said in a statement that "Americans have one simple request of President Trump: lower prices. Instead of answering the call, he's taking a sledgehammer to the economy and pursuing unpopular, reckless trade policies that will do nothing to benefit workers and only serve to increase costs for consumers."
"But Trump doesn't care about what happens to working families, as long as his billionaire donors and advisers are happy," she continued. "Republicans are already
chomping at the bit to use any potential tariff revenue to fund their next massive billionaire tax break."
Kobie Christian, a spokesperson for the national campaign Unrig Our Economy, similarly concluded that "there is no other way to say it—this is an out-of-touch policy designed by a billionaire and for billionaires."
"Virtually no one will benefit from these Republican-backed tariffs—except for the ultrawealthy who will get yet another tax break, paid for by working families," Christian added. "Small business owners will be forced to raise their prices to keep their businesses afloat, and Americans will have to pay even more for everyday goods. These tariffs could even push the economy into a recession. American workers need lower costs, not more tariffs and billionaire handouts."
American Economic Liberties Project's Rethink Trade director, Lori Wallach, declared that "the businesses that profiteered from our old broken trade system should pay for the necessary transition to more balanced trade, not American workers and consumers. President Trump must take immediate action to stop corporations from using the pretext of these tariffs to price gouge the very Americans already slammed by decades of bad trade policy and corporate greed."
Wallach was among those who pointed out that tariffs can be a vital tool. She explained that "Trump's announcement goes much broader, but tariffs against mercantilist countries like China, Germany, Korea, Taiwan, and Japan to counter systemic trade abuses can help restore America's capacity to produce more of the critical products needed for American families to be healthy and safe and for our country to be more resilient and secure."
"But to deliver more American production and good jobs, the goal must be to balance trade, not equalize tariff rates, and tariffs must be consistent," she stressed. "Tariffs must be accompanied by other industrial policies like tax credits to build demand for U.S.-made goods, incentives for investment in new production capacity and bans on stock buybacks, and easier union formation so gains go to wages, not just profits."
The only thing being liberated today is money from the bank accounts of hard-working Americans.
— Robert Reich ( @rbreich.bsky.social) April 2, 2025 at 5:21 PM
Liz Shuler, president of the AFL-CIO, the nation's largest federation of unions, also said that "the strategic use of tariffs can be an effective tool to support our industries and protect jobs at home. But they must be accompanied by policies that invest in our manufacturing base and a strong commitment to promoting workers' fundamental right to organize trade unions and bargain collectively."
"Unfortunately, the Trump administration's attacks on trade union workers' rights at home, gutting of the government agency that works to discourage the outsourcing of American jobs, and efforts to erode critical investments in U.S. manufacturing take us backward," she asserted. "We will continue to fight for trade policy that prioritizes the interests of working people without causing unnecessary economic pain for America's working families."
Some congressional Democrats shared similar criticism. Michigan Congresswoman Debbie Dingell said that "when used strategically, tariffs are a critical tool to bring back jobs and support American workers and industries," but "I'm concerned about the chaotic and immediate implementation of these wide-reaching tariffs."
U.S. Rep. Jimmy Gomez (D-Calif.)
wrote on social media that "Trump's dumb tariffs are going to drive up costs for real working people. Like the dad who is trying to save money by fixing his car at home. Those parts from AutoZone are made somewhere else and the prices will go up!"
As the White House circulated a multipage sheet of targeted countries, Gomez and Rep. Sean Casten (D-Ill.) were among those who noticed that Russia—which is waging a yearslong war on Ukraine—is absent from the list.
Meanwhile, as critics including Aaron Reichlin-Melnick at the American Immigration Council highlighted, the list included the Australian territory of the Heard Island and McDonald Islands—even though the islands are "completely uninhabited."
"Population zero. I guess we're going to tariff the seagulls?" quipped Reichlin-Melnick. "It kind of feels like a White House intern went through Wikipedia's list of countries and just generated this list off of that with no further research."
Organizer Max Berger
wrote on Bluesky Wednesday, "I like how no one knows whether the president of the United States is going to tank the global economy because he's a fucking idiot—or if he's just doing a bit."
"Trump is clearly comfortable weaponizing Social Security for political purposes, and we fear that this is only the beginning," said one critic.
The top Democrat on the U.S. House Oversight Committee on Wednesday led calls for the resignation of acting Social Security Administration Commissioner Leland Dudek following the revelation of internal emails confirming that the SSA canceled contracts with the state of Maine as political payback after Democratic Gov. Janet Mills publicly defied President Donald Trump in support of transgender student athletes.
The emails—which were obtained by House Oversight Committee Ranking Member Gerry Connolly (D-Va.)—show that Dudek ordered the cancellation of enumeration at birth and electronic death registration contracts with Maine, even though SSAd subordinates warned that such action "would result in improper payments and potential for identity theft."
"These emails confirm that the Trump administration is intentionally creating waste and the opportunity for fraud."
Dudek—who is leading the SSA while the Senate considers Trump's nomination of financial services executive Frank Bisignano—replied to the staffer: "Please cancel the contracts. While our improper payments will go up, and fraudsters may compromise identities, no money will go from the public trust to a petulant child."
He was referring to Mills, who stood up to Trump in February after the president threatened to suspend federal funding for Maine unless the state banned transgender girls and women from participating on female scholastic sports teams.
The termination of the enumeration at birth contract briefly forced Maine parents to register their newborns for a Social Security number at a Social Security office, rather than checking a box on a form at the hospital as is customary, before the SSA reversed its decision.
Connolly sent Dudek a letter demanding that he "resign immediately" and submit to a transcribed interview with House Oversight Committee Democrats. Connolly wrote that Dudek "ordered these contracts terminated" as "direct retaliation" for Mills' defiance, "even though you knew that doing so would increase improper payments and create opportunities for fraudsters."
Government accountability advocates also condemned Dudek's actions.
"These emails confirm that the Trump administration is intentionally creating waste and the opportunity for fraud—in this case, to punish Maine Gov. Janet Mills for not bowing down to Donald Trump," Social Security Works president Nancy Altman told Common Dreams.
"The people actually punished by these actions were exhausted new parents in Maine, forced to drag their newborns to overcrowded Social Security offices in the middle of a measles outbreak," she continued. "Thankfully, the Trump administration had to quickly reverse course after massive public outrage. But Trump is clearly comfortable weaponizing Social Security for political purposes, and we fear that this is only the beginning."
"Once again, we see Team Trump resorting to revenge to set domestic policy."
Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, told Common Dreams that "it does not surprise us at all that this administration would weaponize Social Security against anyone who disagrees with or challenges President Trump."
"It's one of the concerns that we have with Elon Musk and [the Department of Government Efficiency] having access to everyone's personal data without any defensible explanation for why they need it," he continued. "We and the American people have legitimate worries, not only that this information will be vulnerable to hackers, but also that it could intentionally be misused as a weapon against anyone who publicly disagrees with Trump."
"The fact that the acting commissioner himself publicly admitted that he didn't really understand the Maine contract, but canceled it anyway, proves that this administration is making reckless changes that affect real people for no legitimate reason," Richtman added. "Once again, we see Team Trump resorting to revenge to set domestic policy."
The revelation of Dudek's emails comes amid SSA turmoil caused by the termination of thousands of agency personnel in what Trump, Musk, and other Republicans claim is an effort to reduce waste and fraud. Musk—who recently referred to Social Security as the the "biggest Ponzi scheme of all time"—has proposed the elimination of up to 50% of SSA's workforce and has said that up to $700 billion could be cut from programs including Social Security, Medicare, and Medicaid.