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00:00The real thing that is going to happen that is going to give Americans real purchasing power

00:06increases, it's going to be through growth. We passed the one big, beautiful bill.

00:13I am also the IRS commissioner, and I can see that working Americans, thanks to the president,

00:20living up to his campaign promises, no tax on tips, no tax on overtime, no tax on Social Security,

00:26the deductibility of auto loans. If you buy an American car, there are going to be substantial

00:32refunds in the first quarter of 26. Working Americans will change their withholding,

00:38and they will get a bump up in their real incomes. So I would expect in the first two quarters,

00:45we are going to see the inflation curve bend down and the real income curve substantially accelerate.

00:54And when those two lines cross, Americans are going to feel it. But Maria, I will tell you what

00:59we're not going to do. What we're not going to do is tell the American people that they don't know

01:04how they're feeling, which is what the Biden administration did. They said it was a Biden

01:08session. You don't know how good you have it. And we are working every day to get these prices down.