Boyle Slams Secretary Bessent Over Trump Administration’s Failure to Lower Costs for Working Families

WASHINGTON, DC - Congressman Brendan F. Boyle (PA-02) today pressed Treasury Secretary Scott Bessent over the Trump administration's failure to deliver on its promise to lower costs for working families.

During today's Ways and Means Committee hearing, Secretary Bessent refused to defend comments by National Economic Council Director Kevin Hassett, who recently suggested that Americans spending more on everyday necessities is a sign of economic "optimism." Boyle argued that families are spending more because prices are higher-not because they are feeling more optimistic about the economy.

Boyle also pointed to recent polling and consumer confidence data showing widespread dissatisfaction with the administration's handling of the economy. He noted that President Trump repeatedly promised to lower costs "on day one." Now, 500 days into the administration, Americans are still paying more for groceries, gas, housing, and health care.

A transcript of key exchanges can be found below. Congressman Boyle's full questioning can be found in the video below.

(Click for video of questioning)

Key Exchanges from Congressman Boyle's Questioning:

Boyle: I can settle how the American people are feeling about this economy because  I have the data on it from Fox News just the other week, on the president and this administration's handling of the economy: 71 percent of the American people disapprove, including 40 percent of Republicans. On the president's handling of inflation, 72 percent disapprove. They disapprove, in fact, by a three-to-one margin over approval. So, do you agree with the American people, or are they just wrong?

Bessent: Look, the American people were torched under the Biden administration.

Boyle: Oh my God, I wish I had a dollar for every time you or someone on the Republican side brought up Biden's name. If I did, I might have as much money as you have, Mr. Secretary.

…

Boyle: President Trump, in my home state, the Commonwealth of Pennsylvania, and throughout the country, especially those seven big battleground states, he promised the American people, and I quote, "I will lower costs on day one."

Well, Mr. Secretary, as it turns out, today is exactly day 500 of this administration, and costs aren't any lower. They are higher than ever before. Inflation is rising. Gas prices are surging. Consumer confidence, again, has collapsed, and health care costs are going up thanks to the bill that you helped pass over a year ago. Why won't you just admit that this has been a failed presidency? Because the first step to turning this around would be admitting the problem.

Bessent: The 2.6 percent GDP growth, exceptional job growth in the private... The, that's the average since President Trump came into office. Real wage increases every month except for April.

Boyle:  Once again, inflation is eating away at the pocketbooks of the American people.

[Crosstalk]

Boyle:  When I was back home in northeast Philly a couple days ago and at a gas station, people were paying over $4.50 a gallon. They were feeling a lot of things, a lot of emotions. I guarantee you, optimism wasn't one of them.

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