Latest / The Ben Ferguson Podcast / 4th of July Fireworks as Congress Passes Historic Tax Bill in Dramatic All-Night Vote

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4th of July Fireworks as Congress Passes Historic Tax Bill in Dramatic All-Night Vote · The Ben Ferguson Podcast

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  Speaker 1: It just shows you when you can get every story,
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  Speaker 1: one hundred percent of the stories, no matter what you do,
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  Speaker 1: that's good.
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  Speaker 2: They make it as bad as possible. But the fake
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  Speaker 2: news hit me with eggs.
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  Speaker 1: Remember the first week, four days, eggs are through the roof.
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  Speaker 3: I said, I just got here.
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  Speaker 2: What's going on with eggs?
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  Speaker 3: Tell me I didn't hear about it.
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  Speaker 4: If you're listening to the forty seven Morning Update with
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  Speaker 4: Ben Ferguson.
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  Speaker 5: Happy before the July so nice to have you with
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  Speaker 5: us on the forty seven Morning Update, and we've got
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  Speaker 5: exciting news, including the fact that at five o'clock Donald
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  Speaker 5: Trump is going to sign the Big Beautiful Bill in
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  Speaker 5: the law. We also are going to cover another big story,
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  Speaker 5: and that is how everyone got it wrong with the
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  Speaker 5: jobs numbers that show a major resurgence in our economy.
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  Speaker 5: It's the forty seven Morning Update and it starts right now.
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  Speaker 4: Story number one.
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  Speaker 5: Congratulations America, you just got the biggest tax deduction of
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  Speaker 5: your lifetime after Congress sent Donald Trump the Big Beautiful
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  Speaker 5: Bill to his desk after a dramatic all night House vote.
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  Speaker 2: If you missed it because.
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  Speaker 5: It was an all nighter, this is what it sounded
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  Speaker 5: like when Speaker Johnson walked up to the best job
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  Speaker 5: there is in Washington right now, that job of him
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  Speaker 5: being in charge of passing the big beautiful bill in
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  Speaker 5: the House. And here is what he said, and listened
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  Speaker 5: to the reaction in the room on the floor of
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  Speaker 5: the House, so.
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  Speaker 2: He had to impose a deadline. It just happened to
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  Speaker 2: coincide with our two and forty.
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  Speaker 6: Nine birthdayser to eighteen the laser two fourteen.
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  Speaker 2: The motion is adopted with that objection.
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  Speaker 6: The motion to reconsider is laid on the table.
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  Speaker 5: There it is the House passing a big beautiful bill,
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  Speaker 5: chanting ussay, ussay, ussay. Now, don't get too excited. Only
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  Speaker 5: half the room was chanting at ussay. The other side
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  Speaker 5: of the room was angry. That would be your socialist,
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  Speaker 5: communists and Marxist masquerading as the Democratic Party. And it
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  Speaker 5: didn't take long to hear exactly what the President's plans were.
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  Speaker 5: After the Republicans delivered, the President said, I'm signing this
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  Speaker 5: sucker Friday afternoon at the White House five o'clock Eastern. Yes,
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  Speaker 5: and an effort to delay Thursday's vote. The majority leader,
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  Speaker 5: by the way, didn't want there to be a fourth
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  Speaker 5: of July celebration. Hakim Jeffries, that Democrat from New York,
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  Speaker 5: spoke for eight hours and forty four minutes, breaking a
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  Speaker 5: record for the longest House floor speech. Jeffrey decried what
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  Speaker 5: he said were terrible cuts to things like Medicaid and yes,
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  Speaker 5: we did cut of legal immigrants from abusing the program.
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  Speaker 5: He also said this was the worst legislation and it
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  Speaker 5: was a quote crime scene from the floor of the House. Meanwhile,
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  Speaker 5: Donald Trump went to Iowa to showcase next year's celebration
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  Speaker 5: of the nation's two hundred and fiftieth birthday. So there's
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  Speaker 5: two different Americas right now, the one where Democrats hate
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  Speaker 5: you getting more of your money, and there are others
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  Speaker 5: on the other side that are celebrating the largest tax
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  Speaker 5: break the American population in my lifetime has ever seen.
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  Speaker 5: The present making it clear that it is his job
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  Speaker 5: to do whatever it takes to get our economy rolling again.
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  Speaker 5: And when the Republicans had their press conference and the
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  Speaker 5: Leader of the House, the Speaker, came to the podium,
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  Speaker 5: here's what he had to say.
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  Speaker 6: This is the vote tally card. We're gonna frame this one,
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  Speaker 6: Okay to eighteen two fourteen. Listen I'm not gonna give
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  Speaker 6: you a long speech. A lot has been said today,
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  Speaker 6: and these people are exhausted. A couple of us quite
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  Speaker 6: literally haven't slept in two days. So I'm a danger
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  Speaker 6: to myself and others right now. I'm not gonna I'm
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  Speaker 6: not gonna speak off the cup. I'll just say this.
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  Speaker 6: I mean, many if you have asked me this question
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  Speaker 6: in the hall of the last couple of days, but
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  Speaker 6: when it looked like that we might actually deliver this thing,
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  Speaker 6: particularly this morning, how did you know? I mean what,
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  Speaker 6: what what kept you going? Why did you did? Why
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  Speaker 6: did you think this was possible? You guys made an
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  Speaker 6: audacious plan. You brought the most comprehensive, complicated piece of
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  Speaker 6: legislation probably arguably in the top two or three in
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  Speaker 6: the history of the Congress, with the smallest margin in
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  Speaker 6: US history, which we had for big chunk of the
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  Speaker 6: first hundred days. And you and you put this audacious timeline.
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  Speaker 6: You said you're going to pass it out of the
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  Speaker 6: House by Memorial Day. I mean some of you openly
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  Speaker 6: laughed at me when I said that back in early February.
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  Speaker 6: And then we said we would get it done by
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  Speaker 6: July fourth. We beat Memorial Day by four days, and
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  Speaker 6: we got this one done a day early. I just
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  Speaker 6: want to point out, Okay, I got to schedule the
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  Speaker 6: under watch. So the question was, I mean, like, why
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  Speaker 6: why did you do that? Why did you think that
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  Speaker 6: was possible? Because it just it sums up. I was
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  Speaker 6: someb it up with one word, it's it's belief. Okay.
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  Speaker 6: We had a vision for what we want to do
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  Speaker 6: as a group. We believed in the election cycle last
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  Speaker 6: fall that we were going to be given this great
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  Speaker 6: blessing of unified government, that we would have the White
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  Speaker 6: House and the Senate and the House aligned and alignment
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  Speaker 6: unified government. And we did not want to waste that
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  Speaker 6: opportunity because we understand the history that comes along with it,
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  Speaker 6: the opportunity that we can do for the country, and
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  Speaker 6: we believe that we would have that chance. And then
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  Speaker 6: I believe in the people that are standing here behind me.
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  Speaker 6: I believe in this group, every single one of them individually.
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  Speaker 6: Some of them are more fun to deal with than others.
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  Speaker 3: You know.
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  Speaker 6: I mean that with the greatest level of respect. I
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  Speaker 6: love every single one of my colleagues, you know, even
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  Speaker 6: the ones I gotta spend the more time with right,
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  Speaker 6: because everybody's here, their motive is right, their heart is right.
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  Speaker 6: They're trying to do right for their constituents. They're trying
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  Speaker 6: to serve the greatest nation and the history of the
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  Speaker 6: world that we're going to celebrate tomorrow. We don't take
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  Speaker 6: that lightly. I know their hearts, and I know what
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  Speaker 6: their skill sets are, and I know what they bring
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  Speaker 6: to the table, and I get up every day excited
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  Speaker 6: because I know that each of them are going to
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  Speaker 6: bring that to the table and they're going to serve
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  Speaker 6: their constituents. You could not have a greater group of
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  Speaker 6: public servants in the People's in this room right here.
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  Speaker 6: They will give their all for this country, and man,
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  Speaker 6: that's what the Framers intended when they put this thing
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  Speaker 6: together two hundred and forty nine years ago. This is
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  Speaker 6: what it was about. So I believe, I believed in
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  Speaker 6: this vision. I believed in the group. I believe in America.
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  Speaker 6: I believe we had a RAI station. I'm gonna say
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  Speaker 6: this very simply, and everybody here would articulate it in
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  Speaker 6: their own way. We had a tough four years before
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  Speaker 6: this last election cycle. America was in We're in deep
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  Speaker 6: trouble and we knew that if we won, and we
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  Speaker 6: believe we would, we knew that if we got unified government,
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  Speaker 6: we'd have to quite literally fix every area of public policy.
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  Speaker 6: Everything was an absolute disaster under the Biden Harris radical woke,
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  Speaker 6: progressive Democrat regime. And we took the best effort that
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  Speaker 6: we could in one big, beautiful bill to fix as
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  Speaker 6: much of it.
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  Speaker 2: As we could.
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  Speaker 6: And I am so grateful to God that we got
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  Speaker 6: that done as we did because of the dedication. Yeah, lastly,
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  Speaker 6: it's no secret I do believe in God. I believe
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  Speaker 6: in that motto that I've referenced in the floor speech
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  Speaker 6: of a while ago. I believe that that is what
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  Speaker 6: has made our nation the greatest in the history of
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  Speaker 6: the world. And some people shake their heads and they
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  Speaker 6: think that's old fashioned or something. That is a fact.
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  Speaker 6: When the Framers put this together, they stepped out in faith.
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  Speaker 6: They did something that no nation had ever done before.
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  Speaker 6: The great statesman philosopher G. K. Chesterson, a great Britain,
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  Speaker 6: said America is the only nation in the world it
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  Speaker 6: was founded upon a creed, and he said it's listed
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  Speaker 6: with almost theological lucidity or clarity in the nation's birth certificate.
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  Speaker 6: The Declaration of Independence. We owed these trees to be
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  Speaker 6: self but evident that we recognize, we boldly proclaim the
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  Speaker 6: self evident truth that our rights do not come from
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  Speaker 6: the government. They come from God himself. He's the one
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  Speaker 6: that gave us our rights.
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  Speaker 3: That's got.
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  Speaker 6: Abraham Lincoln sad in the Gettysburg Address. We are dedicated
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  Speaker 6: to this proposition, one nation under God, a government of
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  Speaker 6: the people, by the people, for the people, shall not
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  Speaker 6: perish from the earth. This is an experiment. It's only
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  Speaker 6: two hundred and forty nine years, y'all. That's not a
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  Speaker 6: long span of time in human history. It's just a
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  Speaker 6: real blip on the whole scale of human history. It
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  Speaker 6: is up to us to say it. It's up to
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  Speaker 6: the duly elected representatives of the people to come here
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  Speaker 6: and represent and it's up to every single one of us,
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  Speaker 6: of the people, by the people, for the people, all
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  Speaker 6: of us. So you've got to be engaged, and we
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  Speaker 6: got to pass this along in the next generation. Reagan
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  Speaker 6: reminded us freedom's not inherited in the bloodstream. It's got
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  Speaker 6: to be protected, it's got to be bought for, it's
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  Speaker 6: got to be taught to the next generation. So that
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  Speaker 6: they will have the same liberty, opportunity and security that
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  Speaker 6: we have all known and too often take it for granted.
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  Speaker 6: So I just want to say, we're going to get
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  Speaker 6: to the main event here. We're about to sign this
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  Speaker 6: bill and get it over to the White House.
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  Speaker 5: Okay, Speaker Johnson, making it clear that the Republican Party,
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  Speaker 5: as slim as the majority as in the House, is
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  Speaker 5: working together to deliver on all of these important issues.
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  Speaker 5: As for the President of United States of America, he
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  Speaker 5: couldn't be happier to deliver to the American people on
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  Speaker 5: the fourth of July a massive bill that protects families
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  Speaker 5: and allows.
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  Speaker 2: You to keep more of your money in your own pocket.
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  Speaker 4: Now, story number two.
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  Speaker 5: It's amazing what happens when you get a real president
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  Speaker 5: in the White House, the President Donald Trump in office.
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  Speaker 5: The US economy is continuing to revitalize and grow. It's
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  Speaker 5: no longer the fake numbers that we know were given
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  Speaker 5: out by Joe Biden, where they just lied and made
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  Speaker 5: up hundreds of thousands of jobs that never existed. Yeah,
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  Speaker 5: we found out that they created nearly a million jobs
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  Speaker 5: that didn't exist just to try to get them re elected.
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  Speaker 5: Remember when they were talking about the build back better days. Yeah,
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  Speaker 5: and Bidenomics, well, it was a disaster, but under Donald Trump.
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  Speaker 5: The June job report showed another massive win for the
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  Speaker 5: American people. It's once again exceeding expectations big time. Now,
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  Speaker 5: the best part of all with all of that this
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  Speaker 5: news is how the media is well having to deal
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  Speaker 5: with it. Fox News dealt with it the appropriate way
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  Speaker 5: by giving you good news. In fact, they made it
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  Speaker 5: pretty short, just twenty six seconds when the numbers came
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  Speaker 5: out about job growth.
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  Speaker 2: Take a listen, it's a.
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  Speaker 7: Fox News alert. The June jobs report just released and
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  Speaker 7: it shows the US added one hundred and forty seven
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  Speaker 7: thousand jobs last month. That is stronger than expected. Revisions
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  Speaker 7: to April and May reports also show sixteen thousand more
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  Speaker 7: jobs created than previously reported and the unemployment rate unexpectedly
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  Speaker 7: falling to four point one percent. So a strong report. Guys,
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  Speaker 7: that's good news heading into this holiday weekend.
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  Speaker 5: Good news right heading into the weekend. Great way of
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  Speaker 5: putting it. But what did they actually say at other
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  Speaker 5: networks when they had to deal with the reality that
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  Speaker 5: US job growth continued at a steady pace last month,
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  Speaker 5: surprising many of the doom and gloom economists right, that
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  Speaker 5: had actually predicted rooting against America and the president a
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  Speaker 5: slowed down in hiring amid what they said was well
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  Speaker 5: Donald Trump's insane trade war in his fiscal policy. Well,
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  Speaker 5: here's how CNN had to report it to you. Enjoy it.
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  Speaker 2: You expected some of this, but this is better than.
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  Speaker 3: Expected, Yeah, Sarah, it is. Look, this jobs market is
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  Speaker 3: like the energizer bunny. Every single time we expected to
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  Speaker 3: run out of steam, it just keeps going and going.
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  Speaker 3: So these new numbers show that the US economy added
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  Speaker 3: one hundred and forty seven thousand jobs in June. That
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  Speaker 3: was well ahead of the expectation of about one hundred
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  Speaker 3: and eighteen thousand, well ahead of some whispers that we
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  Speaker 3: heard on Wall Street of a sub one hundred thousand number.
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  Speaker 3: So this is indeed beating expectations. We were also expecting
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  Speaker 3: a slowdown, we did not get that. This is basically
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  Speaker 3: in line with May, which was revised higher.
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  Speaker 2: It's also good news.
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  Speaker 3: The unemployment rate was expected to go up. It didn't.
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  Speaker 3: It went down to four point one percent. That is
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  Speaker 3: a very healthy number. This is still relatively his store low,
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  Speaker 3: and again it's below the four point three percent that
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  Speaker 3: we had expected.
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  Speaker 2: You just got to laugh.
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  Speaker 5: Even CNN, in their own words, says their quote, we
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  Speaker 5: were expecting a slow down. We did not get that.
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  Speaker 5: These numbers are what we got without passing the big
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  Speaker 5: beautiful bill. So what does that mean? You could expect
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  Speaker 5: the numbers to get even better now. CNN's John Bergman
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  Speaker 5: was pained to tell his audience the predictions of the
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  Speaker 5: job losses right, which means people are actually out of work,
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  Speaker 5: that's terrible for families, and the inflation due to terror policy,
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  Speaker 5: well they were wrong.
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  Speaker 2: Here's how he described it again.
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  Speaker 1: Since you know, March and before, there were predictions that
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  Speaker 1: the terroriffs and I granted a lot of them have
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  Speaker 1: been pulled back, most of them pulled back. But all
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  Speaker 1: that terror of policy was going to lead perhaps to inflation,
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  Speaker 1: would lead to job losses, predictions of doom.
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  Speaker 2: That doom just hasn't happened yet.
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  Speaker 8: It hasn't happened. And you know, John, I've been doing
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  Speaker 8: a lot of reporting on this topic. What I'm hearing
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  Speaker 8: is that for the last few year, really since COVID,
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  Speaker 8: but even before, companies have realized that their supply chains
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  Speaker 8: can be interrupted for lots of reasons. For a virus
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  Speaker 8: for a geopolitical event, for a war, for a climate event.
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  Speaker 8: And so they've been using technology to really streamline things.
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  Speaker 8: They've been getting their their systems in place, and there's
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  Speaker 8: just a lot more efficiency in the system now. In
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  Speaker 8: some ways, I think this is a triumph of business
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  Speaker 8: and how business has been optimizing.
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  Speaker 6: Now.
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  Speaker 8: That said, when we think about who's going to do
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  Speaker 8: well in this period, it's going to be big businesses.
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  Speaker 8: I am hearing that there's more pressure on small and
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  Speaker 8: mid sized businesses that will be far less able to
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  Speaker 8: cope with whatever tariff inflationary impact we do see. That
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  Speaker 8: concerns me because small and mid sized businesses are what
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  Speaker 8: fuels a lot of communities around the country. If you
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  Speaker 8: see them going under because they can't take even a
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  Speaker 8: little bit of teriff pressure that could have a job's impact.
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  Speaker 8: So again, optimistic right now, but it's you know, there
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  Speaker 8: are some issues on the horizon.
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  Speaker 2: Still, don't worry.
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  Speaker 5: We still have if you're doom and gloom for you
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  Speaker 5: that you know it could be just around the corner.
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  Speaker 5: Even though we got this one completely wrong, you gotta
• 14:07
  Speaker 5: wonder how much they really hate America when this is
• 14:10
  Speaker 5: the type of commentary you get, I mean this type
• 14:13
  Speaker 5: of commentary. It's truly incredible. You hear it, and they're
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  Speaker 5: really not happy that more Americans are at work now
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  Speaker 5: than we've seen in a long time.
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  Speaker 2: Don't worry.
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  Speaker 5: We've got President Donald Trump in the White House, Republicans
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  Speaker 5: in charge in the Senate and the House, and that
• 14:28
  Speaker 5: should make everyone happy.
• 14:30
  Speaker 4: Thank you for listening to the forty seven Morning Update
• 14:32
  Speaker 4: with Ben Ferguson. Please make sure you hit subscribe wherever
• 14:36
  Speaker 4: you're listening to this podcast right now and for more
• 14:40
  Speaker 4: in depth news, also subscribe to the Ben Ferguson podcast
• 14:44
  Speaker 4: and we will see you back here tomorrow.