John Thune

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Alaska (Ms. Murkowski) and the Senator from Missouri (Mr. Hawley). Further, if present and voting, the Senator from Missouri (Mr. Hawley) would have voted ``nay.''

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Missouri (Mr. Hawley), and the Senator from Alaska (Ms. Murkowski).

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the Senate proceed to the scheduled 11 o'clock vote.

Mr. THUNE. Mr. President, ``our experts believe and the data shows that most of the price increases we've seen . . . [are] expected to be temporary''--that is what President Biden said 1 year ago this month, something his administration has repeatedly echoed. Unfortunately, it long ago became clear that was wishful thinking on the President's part. Far from being temporary, inflation has become a fact of life in the Biden economy. Last month, inflation hit its highest level yet under President Biden, climbing to 9.1 percent, the worst inflation in more than 40 years. The impact of inflation is being felt in every corner of our economy. Businesses of every size are dealing with the effects of inflation. Small businesses, of course, are being hit particularly hard. And 75 percent of small business owners report inflation has had a negative effect on the financial health of their business over the past 6 months. And 75 percent report that inflation pressures are getting worse. It is not surprising. Everything from inputs to transportation to electricity has become more expensive in the Biden economy, and that has a huge impact on businesses' ability to pay their expenses and run their operations. As one South Dakota business owner who wrote to me noted: It makes it hard for me to grow my USA-made business when I don't have the funds to pay my employees more, add more benefits, purchase more machinery, and buy more material in buck as inflation continues to rise. Farmers and ranchers in my State are also struggling. As of March, the price of fertilizer had risen to an astounding 162 percent since January 2021. The prices of two common herbicides have risen more than 50 percent since last year. And the price of diesel, which powers a lot of farming and ranching equipment, has doubled since President Biden took office. Farming and ranching are tough jobs already, often with tight margins and a lot of weather-related risks. Inflation is making things exponentially hard. The list of inflation's impacts goes on. For example, last week I talked about how inflation is affecting our military, which is able to do less with the funds appropriated for it, thanks to soaring prices across the economy. That, in turn, can affect troop readiness and the military's ability to keep up with needed programs and purchases from weapons to vehicles to aircraft, and ships. Of course, I haven't even yet mentioned the most basic impact of inflation and that is the misery faced by hard-working Americans who confront sky-high prices at the grocery store and the gas pump and wonder how they are going to feed their family this month or whether they will be able to afford to get to work. Bloomberg reported last week that nearly 6 in 10 American workers are concerned that their paychecks won't stretch far enough to support themselves and their families. Another recent poll reported that 70 percent of Americans have had to cut back on other spending to afford necessities. Life in the Biden economy is grim. At this point, how we got here is well-established. One of the main reasons we are in the midst of this inflation crisis is Democrats' decision to pass a massive partisan $1.9 trillion spending bill last March under the guise of COVID relief, despite the fact that Congress had just passed a fifth bipartisan COVID bill that met essentially all current pressing COVID needs. Democrats were warned that their bill would cause inflation; and they proceeded anyway. The so-called American Rescue Plan flooded the economy with unnecessary government money, and the economy overheated as a result. So here we are with Americans struggling under the weight of the worst inflation in 40 years, and Democrats want to double down on the spending strategy that helped get us into this mess in the first place. That is right. Despite the fact that even Democrat economists have stated that the American Rescue Plan helped create our current inflation crisis, Democrats want to pass another massive government spending bill filled with excessive spending and tax hikes--a trillion dollars in tax hikes in recent discussions. Apparently, Democrats are not content with spending us into an inflation crisis, they would also like to tax us into a recession. There is already reason to worry about the negative economic impacts of new climate measures the President is contemplating imposing, but on top of that, Democrats want to spend even more government money and impose a trillion dollars in tax hikes, a substantial part of which would fall on small businesses. At this rate, there is no telling when our inflation crisis will end. Democrats are so committed to big spending that even if their legislation fails this time around, they are already planning to run on their big spending agenda in November. I am not sure I would want to try to convince voters to elect me by touting the same spending strategy that helped land our country in this inflation crisis in the first place. But Democrats' belief in big spending is so deeply ingrained that it apparently can't be swayed even when they see the negative consequences. It is incomprehensible that Democrats are contemplating doubling down on the spending strategy that helped get us in this mess in the first place. The first spending spree has been a disaster for our country, and I can only imagine how much Americans would suffer from their next one. I yield the floor.

Mr. THUNE. Mr. President, I ask unanimous consent that I be able to speak for up to 15 minutes prior to the scheduled rollcall vote.

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Missouri (Mr. Blunt), the Senator from North Dakota (Mr. Cramer), and the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: The Senator from Missouri (Mr. Blunt), the Senator from North Dakota (Mr. Cramer), the Senator from Louisiana (Mr. Kennedy), the Senator from Oklahoma (Mr. Lankford), the Senator from South Carolina (Mr. Scott), and the Senator from North Carolina (Mr. Tillis).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Mr. President, one of the most important bills that we take up every year is the National Defense Authorization Act, or NDAA, legislation authorizing funding for our military men and women and the defense of our country. The Senate Armed Services Committee passed this year's bipartisan bill a month ago, and we have less than 2 months of floor time left in the fiscal year. The Senate Democrats' focus this month is on a last-ditch effort to pass some version of their Build Back Better tax-and-spending spree in hopes, I have to assume, of eking out a few more votes in November. Apparently, the National Defense Authorization Act will just have to wait. As it does every year, this year's NDAA authorizes funding for critical military priorities. The fiscal year 2023 NDAA continues the modernization efforts begun several years ago in the wake of the 2018 National Defense Strategy Commission report, which warned that our Nation's readiness had eroded to the point where we might struggle to win a war against a major power like Russia or China. It authorizes funding to improve quality of life for our military members and their families, which is not only something we owe these men and women who sacrifice so much for us but is also essential for recruiting and retaining members of our all-volunteer force. It authorizes funding to enhance our nuclear deterrence, a key priority with continued nuclear threats from traditional powers like Russia and rogue states like Iran and North Korea. And it continues our strong support for Ukraine. Ukraine no longer dominates every front page, but for 5 months now, Ukraine has been fighting a heroic war against Russian aggression. Thanks to support from allies in Europe and from our own country, Ukraine is still holding out. In a war that many experts thought could see Kyiv fall within a matter of days, Ukraine is approaching day 150 of resisting Vladimir Putin's Soviet-style aggression. In fact, Ukraine continues to strike painful blows against the Russian military, which has now turned to Iran for military support. Later today, Olena Zelenska, wife of Ukrainian President Zelenskyy, will be addressing Congress. She and her husband have been a beacon for Ukrainians during this brutal war; and President Zelenskyy's iron determination, his tireless leadership, and his unflagging commitment to his people inspire all those who love freedom. Ukraine is, in many ways, standing up for the whole free world right now, sending the message that Russia's unprovoked aggression will not be allowed to stand. And the least we and other free nations can do is ensure they have the resources they need to carry out their fight. Russia's war against Ukraine reminds us that nations that value freedom and security must stand together. Finland and Sweden are looking to stand with other free nations by joining the NATO alliance. Vladimir Putin has turned the historic positions of neutrality in Finland and Sweden into robust public support to join the alliance, and both of these countries will strengthen the capabilities and geostrategic position of NATO. Yesterday, the Senate Committee on Foreign Relations reported the treaty concerning their accession to NATO, and I hope the Senate and administration will soon complete their respective roles and approve Finland and Sweden's membership. One priority for me in every National Defense Authorization Act is ensuring that the men and women of Ellsworth Air Force Base in South Dakota have everything they need to successfully carry out their mission. Right now, my priority is ensuring Ellsworth remains a responsive and lethal component of global strike command, with the B-1 bomber leveraging the Joint Air-to-Surface Standoff Missile and its Long Range Anti-Ship Missile derivative. As we look to the future, I am working to ensure the base continues to receive full funding for the many equipment and support facilities that will be needed for the B-21 Raider mission at Ellsworth. I worked to ensure full funding for the first of these facilities in last year's NDAA, including a low-observable coating restoration facility, a wash rack and maintenance hangar, an expanded flight simulator facility, and more. This year's NDAA continues that work with additional funding for the low-observable coating restoration facility, as well as funding for two additional construction projects--a weapons generation facility and a radio frequency facility--that will be needed to ensure Ellsworth is fully able to conduct the nuclear and stealth B-21 missions. I have had the privilege of visiting the B-21 production site in Palmdale, CA. And while the program remains heavily classified, I can say the six planes under production are impressive feats of American engineering and that we are honored that South Dakota will be the first State to host the mission. But it is not just about the hardware and cutting-edge systems. Our greatest asset is our people, including the pilots, the maintainers, and all of the men and women who have answered the call to serve. That is why I am focused on ensuring our men and women in uniform have not just the military support they need but the support they need for their families. More military families will be moving into the Ellsworth area with the arrival of the B-21 mission--as many as 250 people per year, including 100 dependents. I am committed to ensuring that the infrastructure is in place to provide ample facilities for these families. To that end, I worked to include in this year's NDAA an extension of an authority for the Secretary of Defense to adjust basic allowance for housing rates if an installation is experiencing a sudden increase in the number of servicemembers assigned there. This will ensure that families at Ellsworth and elsewhere will have the resources they need to secure appropriate accommodations. I am also working to ensure that the Douglas School District is able to integrate and support Air Force members' children and provide sufficient classroom space. This NDAA would provide $15 million in impact aid for schools experiencing force structure changes like the anticipated growth at Ellsworth with the arrival of the B-21 mission. I am grateful to Senator Rounds for his assistance getting this through the committee's markup and to our State's at-large Representative, Congressman Johnson, for his work to get it included in the House-passed bill. This expanded program should be a good first step to help ensure that Douglas School District is able to expand to meet the needs of new Ellsworth families. The House of Representatives, to its credit, voted on its version of the National Defense Authorization Act the other day. But, unfortunately, the House legislation's total funding authorization is lower than the Senate bill's number. That is a concern, not only because we have a lot of priorities to fund but because inflation is currently cutting into the military's spending power. Inflation affects American families and businesses, but it also has a serious effect on our Nation's security. As prices soar across the economy, the military is able to do less with the dollars that it has and that can affect troop readiness and the military's ability to keep up with needed programs and purchases, from weapons to vehicles to aircraft and ships. It is essential that the final House and Senate bill include the Senate's top-line funding number. In his 1793 annual message to Congress, George Washington said: There is a rank due to the United States among nations which will be withheld, if not absolutely lost, by the reputation of weakness. If we desire to avoid insult, we must be able to repel it; if we desire to secure peace, one of the most powerful instruments of our rising prosperity, it must be known that we are at all times ready for war. In other words, ``Peace through strength.'' These words hold true in every age. The surest method of securing peace is ensuring we are prepared for war. As Russia's unprovoked attack on Ukraine reminds us, there will always be nations who threaten peace and freedom. And the surest way to prevent these powers from destroying freedom is to ensure that we present a powerful threat of our own, a credible deterrent that stops these nations and other bad actors from wanting to tangle with us. There is no more a certain way to invite war than to be unprepared to meet the bullies and the dictators of the world. The National Defense Authorization Act is one of the most essential pieces of legislation we take up each year because it helps ensure that our Nation is equipped to defend itself and to deter aggression. I hope that the Democratic leadership will consider deferring its tax-and-spending plans to take up this important national security legislation in the near future. I yield the floor.

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Nebraska (Mrs. Fischer), the Senator from Louisiana (Mr. Kennedy), the Senator from Kansas (Mr. Moran), the Senator from Alabama (Mr. Shelby), and the Senator from Alabama (Mr Tuberville).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Nebraska (Mrs. Fischer), the Senator from Louisiana (Mr. Kennedy), the Senator from Kansas (Mr. Moran), the Senator from Alabama (Mr. Shelby), and the Senator from Alabama (Mr. Tuberville).

Mr. THUNE

Mr. THUNE. The following Senator is necessarily absent: the Senator from Louisiana (Mr. Kennedy).

Mr. THUNE

Mr. THUNE. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. THUNE

Mr. THUNE. Mr. President, June inflation numbers came out last Wednesday, and, as is typical for the Biden Presidency, they weren't good. In fact, they were spectacularly bad. Inflation hit 9.1 percent in June, the worst inflation since November of 1981. The last time inflation was this bad, America was still a year and a half away from finding out whether Han Solo would survive his time in carbonite. Mr. President, we all know how we got here. In large part, it was via a Democratic spending spree. When Democrats took office in January 2021, Congress had just passed a fifth bipartisan COVID relief bill that met essentially all current pressing COVID needs. But now that they were in charge, Democrats were eager to get spending. So they passed a massive $1.9 trillion piece of legislation under the guise of COVID relief that flooded the economy with unnecessary government money, and, as expected, the economy overheated as a result. Even worse, despite steadily climbing inflation in the wake of their bill, Democrats seemed incapable of learning from their mistake. In fact, they spent last fall attempting to double down on the strategy that helped get us into this mess in the first place. Fortunately, their plans for a second spending spree failed last December. But it has become clear that they are not giving up. In fact, right now, they are trying to pass a new version. In the latest iteration of their tax-and-spending spree, Democrats notably plan to hike taxes on small businesses. Yeah, that is right, on small businesses. Our country is struggling with soaring inflation, the economy is teetering on the brink of a recession, and the Democrats want to raise taxes on small businesses--and particularly on small, individually, and family-owned businesses or what are often called passthrough businesses, which make up more than 90 percent of the businesses in this country. Mr. President, I guess it shouldn't be a surprise. After all, ``tax and spend'' is the unofficial Democrat motto. The Democrats have made their hostility to tax relief very plain. President Biden ran for President on repealing tax cuts from the Tax Cuts and Jobs Act, the tax relief legislation Republicans passed in 2017 that helped increase wages and incomes, boost economic growth, and drive the poverty rate to a record low. In addition to the natural economic recovery coming out of the pandemic, much of the residual strength in the economy that President Biden likes to tout is a result of the tax relief passed in the Tax Cuts and Jobs Act, but that hasn't stopped President Biden from claiming that the bill just benefited high-income earners and corporations. The only problem with his narrative, of course, is that lower- and middle-income Americans are actually the ones who saw some of the biggest benefits from Republicans' tax relief legislation. Wage growth in the wake of Republicans' legislation was strongest for those in lower income brackets. From 2017 through the end of 2019, real wealth for the bottom 50 percent increased by an astounding 28.4 percent, compared to 8.9 percent for the top 1 percent. Meanwhile, government revenue, which Democrats claimed would be hit hard by the Republican tax cuts, last year posted its largest increase in 44 years. Mr. President, before the enactment of the Tax Cuts and Jobs Act, Democrats charged that reducing the U.S. corporate tax rate--from the highest rate, I would add, in the developed world, 35 percent, to a more globally competitive rate of 21 percent--would strip the government of corporate tax receipts. That has hardly been the case. Not only did Federal corporate tax revenues come in at a record high in fiscal year 2021; corporate tax revenue, as a share of the economy, rose to its highest level since 2015. Total tax receipts are set to increase this year by 19.5 percent or $800 billion, according to the nonpartisan Congressional Budget Office, after rising last year by 18 percent. Tax revenues year over year: 18 percent last year; 19.5-percent increase in tax revenues this year, which begs the question: Why do Democrats want to raise taxes when you have got record revenue coming into the Federal Government? The effects of tax reform on business investment, wages, and tax revenue have been a boon to the American people and our economy. It is fascinating how Democrats claim to want one thing yet push for policies that will secure the exact opposite. The President claims he ran for office because he was tired of the trickle-down economy and that he wanted to build an economy that works for working families. The ironic thing is that the pre-COVID economy President Biden complains about was working for working families, thanks in large part to the Tax Cuts and Jobs Act and other Republican economic policies. The Biden economy, in contrast, is the very opposite of an economy that works for working families. Working families in the Biden economy are suffering. Food prices have risen astronomically, and gas prices are nearly twice as high as they were when President Biden took office. Real average hourly earnings are currently declining at the fastest pace in 40 years, and Americans continue to see a de facto pay cut under President Biden. Currently, a growing number of Americans are digging into their savings--when they have them, that is--to make ends meet. Others are relying on things like credit cards or visits to food banks, where demand has soared. Now Democrats want to make things worse by raising taxes on small businesses and other Americans. That is likely to lead to a combination of lower wages for workers, lower returns for business owners, and higher prices for goods and services. When you combine that with soaring inflation and more unnecessary government spending, you have a recipe for continued economic misery for American families. If Democrats really wanted to help American families, they would be focused on making all of the Tax Cuts and Jobs Act tax cuts permanent. Instead, they are pursuing tax-and-spending policies that will make the economic havoc they created even worse. Let's hope that the newest iteration of their Build Back Better tax- and-spending spree will fail before American families have to suffer any more consequences. I yield the floor.

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from Wyoming (Mr. Barrasso), the Senator from Nebraska (Mrs. Fischer), the Senator from South Carolina (Mr. Graham), the Senator from North Dakota (Mr. Hoeven), the Senator from Louisiana (Mr. Kennedy), the Senator from Kansas (Mr. Moran), the Senator from Alabama (Mr. Shelby), the Senator from Pennsylvania (Mr. Toomey), and the Senator from Alabama (Mr. Tuberville). Further, if present and voting, the Senator from North Dakota (Mr. Hoeven) would have voted ``nay''.

Mr. THUNE

Mr. THUNE. Madam President, yesterday morning, June inflation numbers were released. And, as usual with this administration, the news was not good. Inflation rose once again in June to 9.1 percent--the highest inflation since November of 1981. November of 1981. I was in college the last time inflation was this bad. Americans are suffering. Everywhere Americans turn, they are being asked to pay more--more for cleaning supplies, more for gas, more for health insurance, more for groceries. A new analysis yesterday from the Joint Economic Committee found that inflation will cost the average American household a staggering $718 a month over the next year--$718 per month. That will happen even if prices stop going up tomorrow--$718 per month, more than $8,600 for the year. No working family can afford that. A major reason that we are in this crisis is because of Democrats' decision to flood the economy with unnecessary government money with their so-called American Rescue Plan Act. And, unfortunately, there is no easy solution to the crisis they helped create. But the first thing--the first thing--should be to do no more harm. Incredibly, however, Democrats are currently attempting to double down on the strategy that helped create this crisis in the first place by passing a version of the Build Back Better tax-and-spending spree they tried to force through last year. Apparently, Democrats think more government spending--like the government spending that helped get us into this mess--plus new taxes are a good solution for an inflation crisis and an economy teetering on the brink of recession. Madam President, if Democrats want to help our country get out of this inflation crisis, more unnecessary government spending and new taxes are the exact wrong way to go about it. In fact, the biggest thing the Democrats can do to avoid making this crisis worse is by flooding the economy with more unnecessary government money. After that, the biggest thing Democrats and the administration in particular can do to help alleviate this crisis is to unleash American energy production. I don't need to tell anyone that energy prices have been a major contributor to our inflation crisis. Gas prices are up nearly 60 percent--60 percent. The current cost of a gallon of regular gas is $4.60--almost double what it was when President Biden took office just 18 months ago--and the price of diesel is even worse, which is a big concern for farmers and ranchers back home in South Dakota and around the country, not to mention all of our truckers. Electricity-- that is up 13 percent. Utility gas service is up 38 percent. Americans everywhere are feeling the pinch. Of course, high gas prices and utility prices don't just cause direct pain at the pump; they also contribute to higher prices across the economy, which means that lowering energy prices is one of the most important things we can do to help ease high prices on a variety of goods. The way to lower energy prices is to unleash American energy production, including and especially conventional energy production. Unfortunately, the President has shown and continues to show a clear hostility to conventional energy production despite the fact that our economy cannot function without conventional energy. Now, I am a longtime supporter of alternative energy, from wind to biofuels, and I come from a State that derives a substantial portion of its electricity generation from wind. In fact, in 2021, over 50 percent of our State's power generation came from wind and 30 percent came from hydroelectric power on the Missouri River. But if it weren't for traditional fossil fuels backing up that generation, we would be left in the dark. The fact is, no matter how much Democrats might wish it were otherwise, alternative energy technology has simply not advanced to the point where our country can rely exclusively on alternative energy. That means that, unless we want Americans to be permanently buried under the pain of high gas prices, we need to invest in responsible production of oil and natural gas. We have tremendous natural resources here at home, and the ability to extract those resources is a far more environmentally responsible way than frequently happens in other countries. But unleashing American production is going to require action from the President, who, despite the current energy price crisis, continues to display hostility to domestic production. He touts the number of leases oil and gas companies have available, but he fails to mention that just 3 months ago his administration made it harder for oil and gas companies to actually make use of the leases in question by increasing the regulatory burden for environmental reviews. On top of this, thousands of drilling permits, which are required to actually begin drilling on oil and gas leases, are currently stuck in the approval process at the Department of the Interior. At the beginning of this month, the administration released a new offshore drilling plan which includes an option to offer, at most, a paltry 11 new leases over the next 5 years. It also leaves the door open for zero new leases--zero. If this proposed 5-year plan doesn't make it clear that the President isn't interested in increasing our domestic energy production, I don't know what does. Madam President, I could go on. I could mention the administration's proposed SEC climate-disclosure rules that are designed to discourage investment in conventional energy or the President's quest to increase taxes on domestic oil and gas production or Democrats' efforts to impose a new fee--or tax--on methane that could cost consumers an additional $35 billion to $69 billion annually, but I will leave it there. Madam President, I hope--I really hope--that the President and his administration will take a good, hard look at their hostility to conventional energy production. Inflation is at 9.1 percent--9.1 percent. American families are paying nearly twice what they were paying in gas prices just 18 months ago, and utility gas prices have increased sharply. Unless Democrats want Americans to be facing staggering prices at the pump and on store shelves for the long term, the administration needs to start encouraging domestic production of conventional energy. That means not just approving leases but making it easier for oil and gas companies to actually develop those leases and produce oil and natural gas. It means encouraging, not discouraging, investment in responsible conventional production and infrastructure like natural gas pipelines. It means giving up attempts to discourage domestic energy production with new and higher taxes or burdensome ESG regulations. American families are struggling, Madam President. The President can actually do something to help them, and I sincerely hope that he will. I yield the floor.

Mr. THUNE

Mr. THUNE. The following Senators are necessarily absent: the Senator from North Dakota (Mr. Cramer), the Senator from Tennessee (Mr. Hagerty), the Senator from Ohio (Mr. Portman), and the Senator from Nebraska (Mr. Sasse).