‘There Is No Fiscal Responsibility In This Bill’: Suhas Subramanyam Slams The Big Beautiful Bill

Forbes Breaking News

On Tuesday, Rep. Suhas Subramanyam (D-VA) spoke on the House floor about the Big Beautiful reconciliation bill, which ultimately passed the House early Thursday morning.

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00:00Moody's, a credit rating firm, downgraded America's credit rating this past weekend.

00:04What does this mean? It's like when your credit score goes down, it will make it more expensive

00:09for a country to borrow money, and the interest rate on our $36 trillion debt will go up.

00:15How much do we spend on interest right now? Well, in 2024, we paid $892 billion in interest

00:21payments. That's 13% of our budget. That's more money than we spent on law enforcement, education,

00:28science, and transportation combined. And now it's going to get worse because this one big,

00:33beautiful bill coming up is going to explode the deficit so that we can give tax cuts to billionaires

00:39and the largest corporations while also slashing Medicaid, food assistance, and other programs

00:44American families depend on. There is no fiscal responsibility in this bill, and this bill will

00:49add $5 trillion to the federal debt. This credit downgrade should be a warning to reverse course,

00:55but instead we seem to be headed straight for a fiscal disaster, and we need to stand up to this.

00:59I yield back. The chair recognizes the gentleman from Missouri, Mr. Alford, for five minutes.

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