Name: The ‘One Big Beautiful Bill Act’ Meets the Senate
Uploaded: 2025-05-28T21:00:00Z
Duration: 5 min 31 s
Description: Free Expression: The specifics of President Trump’s fiscal agenda are less important than the overall picture of political dysfunction and economic ineptitude.

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Free Expression: The specifics of President Trump’s fiscal agenda are less important than the overall picture of political dysfunction and economic ineptitude. Photo: Tom Williams/CQ Roll Call via ZUMA Press/Kevin Dietsch/Getty Images

https://m.wsj.net/video/20250528/1fae474e-8026-432a-9b4b-047e970345a0/1/hls/manifest-hd-wifi.m3u8

Free Expression: The specifics of President Trump’s fiscal agenda are less important than the overall picture of political dysfunction and economic ineptitude.

The ‘One Big Beautiful Bill Act’ Meets the Senate

On this vote, the ayes are 215, the nays are 214, with one answering present. The bill is passed.

Narrator: Only two men will be able to look back with real satisfaction on the role they played in the passage of the One Big Beautiful Bill Act, the House's attempt to implementing most of President Trump's fiscal agenda.

We have a very, very united party. This man has done a fantastic job.

Narrator: The first is House Speaker Mike Johnson, who pulled off a modern-day version of Jason's quest for the golden fleece.

Come back, Jason.

Narrator: Piloting his Argonauts between the Scylla of Trumpian disapproval and the Charybdis of popular distrust.

We have 220 Republicans in the House Republican Conference and lots of different opinions that represent very different districts around the country with very different interest. But the principle and the philosophy is always the same: Everybody is conservative.

This man has done a fantastic job. He's a real unifier.

Narrator: The second is New York Representative Andrew Garbarino, who slept through the vote.

Andrew Garbarino did not make it in time. He fell asleep in the back. No kidding. I know. I'm going to just strangle him. But he's my dear friend.

Narrator: On reflection, Mr. Garbarino's state of unconsciousness may well have saved his reputation from a big, beautiful bill that will, in fact, quite possibly prove to be a monstrous act of economic mismanagement.

This is not beautiful, it's ugly, it's revolting.

Narrator: Not only does the bill add $3 trillion to the government's $36 trillion in debt over the next 10 years, it fails to produce anything more than a tiny reduction to the spending extravaganza we've seen over the last five years, with cuts of less than 2% of projected outlays over the next decade. It also sees the re-complexification of the Tax Code, that the 2017 Tax Cuts and Jobs Act had admirably simplified, with a smorgasbord of new deductions and exemptions. And it rewards Democrat-run states' profligacy with a quadrupling of the state and local tax deduction.

I think the cuts currently in the bill are a wimpy and anemic, but I still would support the bill even with wimpy and anemic cuts if they weren't going to explode the debt.

Narrator: This is no golden fleece Jason and his crew brought home. Instead of doing its part to facilitate the better parts of Mr. Trump's economic ideas and acting as constitutional ballast against the bad stuff, Congress is diluting the good things and doubling down on the, let's call it, madness. So bigger tax cuts driven by the pursuit of narrow, short-term political advantage, allied to minimal spending restraint are all unfolding alongside the administration's ruinous global trade and international economic policies.

I think we have enough to stop the process until the president gets serious about spending reduction and reducing the deficit. You don't defeat the deep state by funding it.

Narrator: We have a president who makes radical changes to tariffs based on economically dim views about international trade, who then changes and unilaterally changes them again with no notice or consultation.

You know, the iPhone, if they're going to sell it in America, I want it to be built in the United States.

Narrator: Mr. Trump believes he's the authority to tell companies like Walmart what they should be charging their customers and companies like Apple exactly where and how they should source their production.

The best way for us to make sure that we have secure supply chains for the American people is for that manufacturing to take place here. And so the president was very clear with Tim Cook. He is wanting to see them have that manufacturing capacity done here in the United States. We're not looking to have it move from China to India, we would like to see that activity right back here.

Narrator: He also pursues an approach, with regard to American universities, that will inevitably discourage the brightest minds in the world from coming to America, where for decades they've contributed to the country's world-beating success in science, technology, and entrepreneurship. Meanwhile, we have a Congress that unilaterally surrenders its constitutional responsibility over much economic policymaking and weighs in happily to compound the problem with politically expedient and reckless contributions of its own.

No tax on tips, no tax on overtime, no tax on loans for American-made cars.

Narrator: And yes, before you object, this comes after four years of a Democratic administration with a complacent Congress that seized the opportunity presented by a dementia-disabled president to advance its own radical and economically ruinous goals.

I'm glad that the Senate is going to have to cut of this, this SALT agreement that's going to add $385 billion to our deficit spending.

Narrator: For the past decade, American business has enhanced its advantage over the rest of the world, innovating in artificial intelligence, biotech, and finance, boosting its productivity. Much of that has been achieved not because of government policy, but in spite of it. Now if investors begin to see American private sector Gullivers tied down by political Lilliputians, our economic powerhouse constrained by erratic, unstable, and obstructive government, the threat to American supremacy will be real. Unlike some in the lower house, senators will want to stay awake for that.

We will be prepared for various contingencies, obviously, one of which could be taking up the House bill and then offering a Senate substitute.

WSJ Opinion: The ‘One Big Beautiful Bill Act’ Meets the Senate

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