During Wednesday’s Senate Democrats’ ‘Ask Me Anything’ Virtual Event, Sen. Tina Smith (D-MN) discussed how the One Big Beautiful Bill will affect all American families.
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00:01Hi, everyone. I'm Senator Tina Smith, and we are back with the questions, and I'm really
00:05excited to help answer these questions. So here is Tina. Thank you for being here. Hey, look,
00:11we got the leader here. We got the great Tina Smith. We know how much this bill is betraying
00:17America. We know how ugly it is, and we're going to let everybody know, right? That's right. That's
00:22right. So we're really grateful to have all of you asking these questions. And here's the first
00:27question that I'm going to answer. Give him hell. Thank you, Chuck. Thank you. Okay. Sawyer
00:32Hackett asked his audience what they'd like us to answer. And so here's the question that
00:38we have. The question is, have heard that the Republican tax bill will raise prices. If it
00:44is passed, how much will it cost me? So this is a great question, because what we know from
00:50bipartisan, nonpartisan experts is that what this bill will do is it will raise
00:56costs for pretty much most middle class and working class families. Your costs are going
01:02to go up. And what's going to happen is that the tax breaks are going to go primarily to the
01:09very wealthiest Americans and big corporations. So that is the gist of everything that's going
01:16to happen here. What does that mean in real time? Your health care premiums could go up if
01:21you buy your insurance on on the health care exchanges. Your energy costs are going to go up
01:29because they are repealing all of the tax credits that help bring renewable energy online, clean
01:34energy online. And that is boosting energy supply. And when they take that all away, everybody knows that
01:41your energy costs are going to go up. If you count on SNAP, which is the biggest anti-hunger program
01:49in this country, you are going to lose your ability to help pay for your groceries. So your grocery costs
01:54are going to go up. And by the way, this is not even counting what impact the Trump tariffs are having
02:00on raising costs of everything from from beer to food to pretty much everything that you buy. So long
02:08story short is that your costs are going to go up and your taxes are almost certainly not going to be
02:16improved by this bill if you're just a regular person.