Speaker Johnson Gives Update On Efforts To Pass 'One Big Beautiful' Reconciliation Bill

Speaker Johnson speaks to reporters on Capitol Hill.

Transcript

00:00I put reconciliation on a very ambitious timetable for a reason for all the reasons we've

00:29discussed. We need to send a message of stability to the bond markets and show job creators and

00:35entrepreneurs and companies that their tax rates are made permanent and do all the other

00:39things that we're going to do in the reconciliation bill as soon as possible. So having set Memorial

00:44Day as that very ambitious timeline was important to keep this momentum going and that momentum is

00:50going strong right now. We had a meeting at the White House on Thursday where we're going to

00:54finalize a few details, coordination, very close coordination as we've maintained between the

00:58White House and the House and the Senate. But that meeting was truncated due to other events

01:04and so we didn't have the full amount of time that we needed with the president to finish

01:08that. And there were some additional calculations on the tax pieces that had not yet been brought

01:13in. So we made the decision jointly. It's not a setback in any way. I've seen it portrayed

01:18as some sort of break in the momentum. It is not that. We would rather take another week

01:23and do it exactly right than rush it and have to adjust things later. So we decided we made

01:28a call to move the ways and means and energy and commerce markups back a week just so that

01:35we can make sure we had all the inputs and all the final decisions made. So it's not a setback

01:40at all. In fact, I think it's very productive. Everybody remains in close coordination on the

01:46urgency of the hour and we're trying to get it done. If it's not done before Memorial Day,

01:51we'll be shortly thereafter. But our timetable is on pace and we're going to get this done

01:57ASAP, send it to the Senate so they can do their part and we get this to the president's

02:01test for signature so the American people can get the relief that they deserve. So with this

02:04not a setback at all, we are very excited and encouraged and coming to the final agreement

02:10point on some of the big points that are in the bill and that's really important and we'll

02:14get there. The president said over the weekend that as a result of his tariff policies, some

02:19kids may have fewer dolls, two and three, 20 or 30, fewer pencils, strollers, prices could

02:27go up. Is that the message that you want to send to the American public?

02:30I didn't see the interview, but I'll just say that I think what the president is trying

02:34to communicate is as he mentioned with the tariff policy and with all the things that

02:39are happening, we had to disrupt the system and we're going to have the desired results.

02:43I mean, as you know, by some measures, more than 100 countries now renegotiating trade agreements,

02:47which would be much more fair for the American people. And that is exactly what we were hoping

02:52and trying to achieve, what the president was trying to achieve with that tariff policy,

02:56is more free and fair trade relations and I think that will be the result. So whatever

03:00short term disruption there is or discomfort, I think what he's trying to say there, I think

03:06is that it will well pay off in the long run. And I think that will happen sooner than

03:10many people anticipate. So we're waiting to see and we'll hold the line. But reconciliation

03:15is on track. And if anybody tells you otherwise, they're not in the room with us.

03:19Thanks guys.

03:20We'll see you later.

03:21.