Providing for Consideration of S.J. Res. Disapproving the Rule Submitted By the Bureau of Consumer Financial Protection Relating to ``Overdraft Lending: Very Large Financial Institutions''; Providing for Consideration of S.J. Res. Disapproving the Rule Submitted By the Bureau of Consumer Financial Protection Relating to ``Defining Larger Participants of A Market for General-Use Digital Consumer Payment Applications''; Providing for Consideration of H.R. No Rogue Rulings Act of Providing for Consideration of H.R. Safeguard American Voter Eligibility Act; and for Other Purposes

Floor Speech

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Mr. MEEKS. Mr. Speaker, I thank the ranking member for allowing me to speak. I thank the ranking member for all of his hard work because for sure what the President of the United States has done was lied to the American people and broke a promissory note.

That promissory note was that he told the American people on day one, inflation would go down. Prices would go down on day one, he said. Instead, what the President has done is, unleashed an economic chaos on the American people. Recessions are normally caused by complex factors like oil price shocks, overleveraged financial markets, or global pandemics.

This new economic disaster isn't caused by war or by an act of nature. It is the result of one man who lied to the American people. His name is Donald J. Trump.

With no coherent plan, he is imposing the largest peacetime tax increase in American history. That is what tariffs are: taxes that will increase the cost of living, your food, the car you need to drive to work, your appliances, and your electronics. All of it will increase what the average family will spend by more than $5,000 a year.

Trump has launched a trade war that has united our allies and our adversaries against us. I could go on and on about the absurd incompetence underpinning Trump's trade war: the pseudo emergency used as an authority, the nonsense methodology used to justify the tariff rates, or the ever-changing rationale about the reasons for starting this tariff tantrum.

The tariffs have already triggered a stock market plunge, wiping out trillions of dollars in value. That is the hard-saved money for your children's education, for your 401(k), and for your dreams of retirement. It is only going to get worse.

As prices go up, people will have less money to eat at their local restaurants, see a movie, enjoy a family vacation. That means lower demand, slower growth, job losses in every sector of our economy from Main Street shops to factory floors.

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Mr. MEEKS. While Trump may have started this, if this Republican majority chooses to duck a vote on my resolution ending these tariffs, then they will own this, too. They will own the higher prices. They will own the jobs lost. They will own the retirement savings erased. They will own all of it.

Mr. Speaker, join us, sign on, and stop this tax of American people. This is what should be happening for us to continue to be the greatest Nation on the planet and make sure that things are affordable for the American people. Let's join together in defeating the previous question and put an end to this self-imposed economic wrecking ball.

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