tv House Speaker Pelosi Holds Briefing on Inflation Reduction Act CSPAN August 12, 2022 10:56am-11:24am EDT
[inaudible conversations] >> good morning, everyone. shortly, i will have to leave to go to the floor because today we are very sadly as a house hold a moment of silence in honor of our colleague jackie bluesky of indian and two members of of her staff sally, zach repotting emma thompson who tragically died last week. the congresswoman was a lifelong proud hoosier who lived a life of service. she was admitted by colleagues
on both sides of the aisle, admired by colleagues on both sides of the aisle for her commitment to our constituents and her personal kindness. this bill on the floor right now is being chaired by jim mcgovern. she and jim mcgovern shared the hunger caucus, and as i said was great admiration for her. comfort to her family, loved ones and staff and the loved ones of zachary and emma that the full house community mourns with them. it's so sad. it's so tragic. okay. so some of you didn't come the other day wednesday when we had our presentation of our visit to asia following the president synthesis in making a prior initiative as a go forward, indo-pacific economic frame and the rest. and following up on that we made a trip to singapore, malaysia,
to taiwan, to korea and to japan. so since you weren't there let me just say this. maybe some of you were. showed how we received and how was reported in the region. it was a very successful trip. a long time ago before most of you were born and maybe before your parents were born there was a show on tv called that was the week that was, david frost was the host and it was about a review of what happened the previous week, sort of in, intended to be, thing. i don't know who thought it was funny or what, depends on what side of issues you were, but i did want to review this past week because it has been monumental. as i mentioned about our trip to asia, a week ago, we returned from that trip and i bring like one of my proudest possessions that i have. this is bar 19 this is what the
crew, members of the crew have for their belongings and the rest, and they made one for me, and they signed it all, and they decided to make it in pink. theirs is usually not pink but it is the most wonderful prize possession that i have of how well they took care of us on this trip, which add 3 million people following the tail number. ..
this was a remarkable, remarkable success in the effective care of our country, our competitiveness and our future. it declares our economic independence with much more self reliance and declares, strengthens our national security. it enhances our families financial future and ensures america can outcompete any nation on earth and it does so in a way that has fairness and is inclusive and diverse. the new law a once in a generation law creates 100,000 prevailing wage jobs and returned america to a world leader in the semi conductor realm and chips manufacturing. it has many house priorities.
when you wear a mask you sort of get the sniffles. many house priorities including to improve a nation's best minds on an inclusive stem workforce that will unleash innovation across the country, every place in our country, every community in our country. we thank our remarkable cares for their vision, we're proud of 100 percent democratic vote and we once again commend our president and on wednesday, the president signed the pact act taking historic action to care for those who put their lives on the line for americans and now suffer from devastating diseases. this could apply to approximately 3 and a half million americans.
the pact act will save lives and secures access to mental health care for potentially 3 and a half million veterans exposed to deadly toxins and empowers those harmed at camp lejeune to have their day in court. as i always say the mobilization makes everything better and we thank the heroic veterans and advocates who made this law their life's work and we are pleased that they will be delivered as soon as possible. in case you don'tknow what burn pits are , there are all kinds of crap into it literally and things that might go by that name and it burns and it has a terrible impact and you don't even know aboutit until later .
the presumption of qualification for healthcare benefits if you were in that area and you were sick gets rid of all that red tape to prove that it might be a connection. and today, today is really a glorious day for us. we sent to the president's desk a monumental bill that will be truly for the people, the inflation reduction act. we recommend leader schumer did great piece of work to send the legislation to us and to the president. sadly for all the good that it does without one republican vote. this legislation and all major legislation championed by president biden from the american rescue package, the infrastructure to the science act is about strengthening the stranglehold that special
interest has had on economists whether it's the fossil fuel industry, whether it's big pharma and even to gun safety with the gun industry loosening background and giving much more leverage to the people rather than to the special interests. again, some of the irish are a little sensitive. but the inflation reduction act, it's a kitchentable issue . if you are sitting at your kitchen table and wonder how you're going to pay the bills , your health care bills, your prescription drugs bills, this bill is for you. it enables medicare to negotiate the price of prescription drugs. it prevents excessive price hikes. it out-of-pocket prescription
drugs of $2000, extends the affordable care act subsidies for three years to lock in lower premiums that save 13 million people, an average of $800 a year. and then it combats the climate crisis, cut carbon pollution by 40 percent, creates 90 million good paying jobs and brings energy costs down from $500-$1000. we have been trying for decades to prevail, to win legislation that enabled the secretary to negotiate for lower prices. big pharma has had a stranglehold on the congress so we couldn't get it done until now. this is a good first step, we always had bigger plans and we always do but it's interesting big pharma's leader has said the democrats will pay for this. really? for loweringcosts for
american families ?and the third, it lowers the deficit and inflation and makes a down payment of $300 billion for deficit reductionto fight inflation . according to and i have the letter here, you should have this but this is a letter from 126 leading economists, seven nobel prize winners are included and this is what it says. it says these investments would be more than fully paid for. the revenue raised to finance them would comeexclusively from wealthy individuals and corporations . further the revenue comes from enhancing the law enforcement, tax enforcement of the irs and disclosing, the more discretionary, distortionary loopholes in the tax code. it's quite a remarkable
letter and it's a short letter but it has pages and pages of economists including sets seven nobel laureates. again, it makes a difference at the kitchen table and at the board room table. corporations and thewealthy will now have to pay their fair share . no new taxes on families making less than $400,000 or under and no new taxes on small business. not one middle-class person filling out their taxes will pay higher taxes. we can talk about immigration. we can talk about the past and what we just talked about about how the rich will finally pay their fair share. this bill honors the democrats promised to american families and after
we passed it andthe president signed into law we will continue to fight for more family features in the bill . there that are not included in this legislation. this legislation is stark, it's transformative and it's really a cause for celebration. we will always put the people over politics, in stark contrast to the position of the republicans with their extreme maga republicans, planning to end social security. look attheir own statements on thisand attacking democracy . with that , that's the week that is and in a little bit it will be the week that was. when we passed this legislation it will be ready in a matter ofminutes and it will go directly to the president for signature . yes.
[inaudible] will. [inaudible] ... [inaudible] >> what comment do you expect me to say? this is outrageous. i don't understand it and i don't know much about it but there holding everybody accountable and that's what it is about but again, all the more reason to be ever alert and vigilant and good for the justice department for bringing those charges.
>> with the inflation reduction act, did people expect a bill to have an impact on something as pernicious as inflation quickly in a matter of months ? >> you have to get started. yes, the fact is that inflation has many causes and we have some of them piling up at once. some argue, that is to say what you have high employment, low unemployment. and increased wages even though they're not keeping up with inflation you will have a of inflation i've said before year in my first hearing with this chairman of the fed when i was a brand-new member of congress, nose to nose with him as the most knowledgeable personon the committee and he said unemployment is dangerously low . really western mark how could that be? in relationship to what it does to inflation. the president to his credit under his leadership 8 million jobs, private-sector included, everybody
participating. 8 million, now 9 million jobs and unemployment cut in half. we don't want to trade jobs . we are glad about those jobs and the unemployment rate. second when we have the supply-chain challenges that increase costs and therefore lower supply, increased cost and therefore we have more in ukraine that has increased putin's price at the pump and so you have a lot of things coming together at once. that is not to say, and you have corporate america exploiting the tax bill. the consumer. we talked about that whether it's the food industry, the price at thepump . whether it's shipping costs and the rest that increase inflation. there are a lot of reasons that have were here but
rather than talk about that we talk about what we want to do about it and whatwe want to do about it is lower-cost . as you see inflation zero for the pastmonth. zero increase . the price at the pump is coming down, we hope it will continue to do that . we passed legislation to reduce the cost of food so we are when you say pernicious, i agree with you that it is, we have to act upon it and this legislation as the economist said and did nobel laureate said will help with fighting inflation. >>. >> how concerned are you about the rhetoric from republicans on what's going on with trunk, some of them saying it's gone far and secondly you want to see congress open more investigations into the material that trump allegedly
stole? >> i appreciate your question but let me respond in this way. as you probably know i have about 30 years of experience in intelligence one of the only leaders in congress as far as i can remember bringing security intelligence to the office. so i want to say this very carefully. rather than answer your question as worthy as they are what's important now is to know that seriousness of what the documents were about, alleged to be about. wedon't know. hopefully we will see more but we don'twant to see too much more because that might endanger our security . so when we talk about this , there are laws against the improper handling of this material. there are laws against this and we have to recognize that. this information as it is
coming across and we will know more later is highly classified. well above top secret. it is again, higher than top-secret because it's top-secret fbi. it is about our national security as we are told and will see how deeply it goes into that so i think our concern is always to protect and defend and protecting and defending means we do not frivolously treat the documents that relate to perhaps as they're saying and we will find out, again it's all alleged at this point. i don't know anymore that's in the public domain, everybody's holding it very tightly . that's if the nature of this, of these documents is what it appears to be, this is very serious. >> do you want other congressional committees?
>> right now it's in an arena that will see what happens next. it isn't, i'm not making plans congressional investigation. let's see what course it's on now. >> have you been briefed on any aspect of this that was missing ? >> i just know it's in the public domain and what's in the public domain is, the president can declassify anything. he shouldn't be able to declassify matters of this seriousness. this isn't declassify, it's just improperly handled . what is it, we will see. we will see that may not tell us everything. still because of the serious nature of all this. but since you're asking this question, we it's self-serving. along time ago, like 20 years more when we had our last
intelligence bill when presidents clinton was president, there were some over on the other side of the bill who wanted to put into the intelligence bill legislation that said if a reporter reported something on the basis of information that he or she received that person would have to prove that it did not harm our national security. so if you got some information that you wrote it out, the burden would be on you. to report that it did not harm national security . i said to the president you can't sign this bill. we will not sign it and the conference report on that. we're not signing the conference report, you cannot sign this document and he of course agreed . i was the ranking member at the time.
so what we did was we changed it to say if you have this information and you wrote about it, the government would have to prove that you harmed national security. which was a big victory for freedom of the press and our country and that wonderful response from the editorial board and the rest of that so be careful about how you handle whatever it is but you have to be appreciative of the fact that we reverse the burden of proof but that is that self-serving? >>. [inaudible] >>. [inaudible]
>>. [inaudible] excuse me? ... [inaudible] why don't we take your question? [laughter] >> how concerned are you about the increased level of violence against law enforcement and are you concerned that some of the rhetoric from the former president is to blame for some of these increased threats ? >> thank you for your question . we need more evidence than the presidential incitement of an insurrectionon the capital which you know about . causing concern about the safety of members of congress and our constitution and of
our law enforcement. we on tuesday had a conference with, a zoom caucus with our members and we had a presentation on enhanced security for members and their families and in an unemotional serious way recognizing that this in flaming of situations that had no basis in truth even and disregard of responsibilities of the law enforcement so yes, but again we have to be no guarantees. we sign up for this, we had to do our jobs. i know very well how vicious they can be for a long time now but certainly it enhanced if that's a word exacerbated
by the statements of the president. you would think there'd be a adult in the republican room and say just calm down, see what the facts are and let's go from that instead of again, instigating assaults on law enforcement. thank you all very much. we have to go this way forthe moment . >>. [inaudible]
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