Schatz: Trump, Republicans Are Raising Prices On Purpose

WASHINGTON - U.S. Senator Brian Schatz (D-Hawai'i) spoke on the Senate floor today about how President Donald Trump and Republicans are raising prices for Americans on purpose.

"The price of everything is up and that's on purpose," said Senator Schatz. "The President of the United States has decided that Americans should pay more for everything. And so, while he's busy lining his pockets with crypto schemes and insider information subscription programs, regular people can't afford their lives."

Senator Schatz continued, "It is common for presidents have to deal with the problems related to the economy. And specifically, what can be a real political killer is the question of inflation. But this is very unusual and maybe unprecedented in American history. You have a President of the United States whose stated policy on tariffs, on energy, on Iran, on health care, on food, is to raise the price of everything. That is not a sort of accidental outcome of his economic policy. People are going broke, and they are doing it to you on purpose."

A transcript of Senator Schatz's remarks is below. Video is available here.

The price of everything is up and that's on purpose. It's on purpose because Donald Trump made it so. We are not in the middle of a pandemic or a recession or a national emergency. But the President of the United States has decided that Americans should pay more for everything. Food, gas, electricity, health care, housing, clothes - everything. And so, while he's busy lining his pockets with crypto schemes and insider information subscription programs, regular people can't afford their lives.

Now, I say he's doing this on purpose because these are deliberate policy choices that he's made. First, it was the tariffs that jacked up the prices of goods across the board. Tomatoes went up 40%. Coffee went up by 20%. Clothes and car seats were up by 20%. Electronics shot up by hundreds of dollars. And so it wasn't as if you could avoid the hit by not shopping at a particular store for a particular thing. And people in Hawai'i are very expert at figuring out, okay, turkey's high, let's get chicken. Okay, pork is high, let's get beef.

The difference now is there's no escape. Literally everything is up. And that's because the president of the United States has decided through this Iran war, through the tariffs, through the energy bans, through the Medicaid and Medicare cuts, through the ACA cuts, through the nutrition cuts to make literally every aspect of your life more expensive.

Then came the One Big Beautiful Bill where in order to cut taxes for billionaires, Trump and the Republicans slashed subsidies for affordable health care and food assistance. And I want you to understand this sounds like the kind of thing a partisan would say. And it is. But it's also true that the way they paid for tax cuts for the wealthiest people and the wealthiest corporations on this planet, the way they literally paid for it, is to take away people's health care. Without the enhanced premium tax credits, ACA premiums went up by close to 60%. And as a result, millions of Americans are living without health care this year. Millions of Americans are living without health care this year - not by choice, but by force. And I want to read some of what those people had to say about it. A man in Texas said, "The prices are simply too high. I don't think we can afford our mortgage if I had to pay for health insurance. If I had catastrophic health event, it makes more sense for me to just declare bankruptcy than it would for me to be delinquent on our other payments." Here's another, a 38-year-old from Alabama: "I can't afford insurance, I can't afford health care without insurance. So basically just hoping and praying I don't get sick." People are having a gamble on their health so that the richest people ever to live can pay even less in taxes. And the price hikes aren't over yet, because premiums are set to rise by double digits again next year, according to proposals from insurers.

Aside from health care, the Republican tax bill also compounded Trump's ban on wind and solar energy. They are banning wind and solar energy, which is not only clean and helps us to address the climate crisis, it's just the quickest and cheapest energy that we can possibly get on the grid. And so it's not like we're in 1970 and we're arguing about the climate crisis versus the price that people pay on their utility bills. Now, the way to address the climate crisis is to do a lot more wind and solar. And the benefit is that it's the cheapest form of energy. And yet this president has banned wind and solar energy through their administrative actions. And that is spiking the price of utilities across the country.

And that's all before you factor in the war in Iran, which in addition to being a spectacular failure that has achieved very little of Trump's own stated goals, has also caused gas and energy and food prices to spike everywhere. Gas is over four bucks right now nationally, and it's even higher in Hawai'i at $5.45. Diesel is $1.60 more than it was a year ago, which means that we're all paying more at stores and for deliveries. In Hawai'i, electricity bills went up 20% in one month - 20% in one month - because of skyrocketing oil prices. And food prices continue to climb everywhere as the closure of the Strait of Hormuz extends a global fertilizer shortage.

It is common for presidents have to deal with the problems related to the economy. And specifically, what can be a real political killer is the question of inflation. But this is very unusual and maybe unprecedented in American history. You have a President of the United States whose stated policy on tariffs, on energy, on Iran, on health care, on food, is to raise the price of everything. That is not a sort of accidental outcome of his economic policy. It is his economic policy to raise the price of everything. People are going broke, and they are doing it to you on purpose.

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