Elizabeth Warren

Ms. WARREN

Ms. WARREN. Mr. President, millions of Americans are counting on Democrats to stop Donald Trump and Republicans from raising healthcare costs. I am here to say: Democrats will not back down. Fighting to lower healthcare costs is a righteous fight. For too many Americans, healthcare premiums are going up by hundreds or even thousands of dollars a month. Who has that kind of money? Just this week, I talked to a woman in Florida, practically in Donald Trump's backyard. She is a wife, she is a mother of four lively kids, and she is about to lose her health insurance because of Trump's cuts. What does that mean for her? She has malignant melanoma, and now she is looking at canceling her ongoing treatments because, once she loses her insurance, she cannot afford treatment for her cancer. That is deeply, deeply wrong. Democrats are in this fight for the right reasons, and Democrats will stay in this fight for the right reasons. In July, congressional Republicans worked hand in hand with President Trump on their biggest passion project--jamming through a bill to hand out massive tax cuts to millionaires, billionaires, and giant corporations. Then, just to put a little extra whip cream on top of their Republican ice cream sundae, they paid for those billionaire tax cuts by slashing healthcare coverage for millions of Americans. Every single Republican voted for it, and every single Democrat voted against it. When the Republicans voted to cut healthcare funding last July, Democrats said: We cannot sign off on a 2026 budget that cuts healthcare for millions of Americans. On September 30, the 2025 budget expired, and Democrats were ready to negotiate to get some of those healthcare cuts reversed in the 2026 budget, but the Republicans didn't want to negotiate. Nope. The Republicans decided they would rather shut down government than offer a single nickel to help Americans manage healthcare costs. They told Democrats to vote for the Republicans' spending bill--take it or leave it--and they have repeated their ``take it or leave it'' through 15 votes and 38 days. Democrats have asked over and over and over and over to negotiate to help Americans with their healthcare costs, but Donald Trump and the Republicans have flatly refused to even talk to Democrats to try to get the government back open. Not even once have the Republicans been willing to negotiate--not once. So where are we now? Well, Trump tweeted seven times in one day about his brandnew, marbled bathroom at the White House while Americans have turned to crowdfunding to pay for their healthcare and grocery bills. Trump hosted a ``Great Gatsby''-themed party while he turned off food assistance for millions of Americans. Do you know the message to 42 million Americans from Donald Trump? Eat dirt. And Trump is weighing the important idea of etching corporations' names into his grand, new, gold-encrusted ballroom while millions of Americans who will lose their health insurance will get sick and be forced to decide whether to give up care altogether or go bankrupt in trying to pay for it. Meanwhile, Republicans in Congress are in disarray. The House is now in its seventh week of a paid vacation. They couldn't reopen the government if they wanted to because they aren't even in Washington to vote. They have Members--Republican and Democratic Members--who want a deal on healthcare, but Speaker Johnson just says: No. Everyone spend another week on a paid vacation. Here on the Senate side, Republicans are in chaos. Leader Thune puts the same bill up over and over for the same votes, but he won't talk about changing a single word. Now he can't even organize a vote among Republicans to reorganize the government. Instead, Republicans are fighting with Republicans over what to do, and still no one says: Let's help families on healthcare and get the government open. So Democrats have put a proposal on the table: Lower costs by extending health tax credits for 1 year, and reopen government. Do it all in one vote, and during this next year, we will continue to work to make our healthcare system work better. It is a commonsense plan that helps people across this country, and that gets our government open. The Senate could do its part to reopen the government in less than an hour. We could do it right now, this afternoon. We just have to put the interests of the American people ahead of politics. Americans are demanding, urging, begging Congress to do something--to do something before Americans are forced to get sicker and sicker before they can get healthcare, to do something before healthcare costs go up and up and up for everyone in this country. People are sick of Washington politics. So we ask our Republican colleagues: Help us do what is right for the American people and help us do it right now. I yield the floor.

Ms. WARREN

Ms. WARREN. Mr. President, I ask unanimous consent that privileges of the floor be granted to the following member of my staff, Henry Wu, for today, October 28, 2025.

Ms. WARREN

Ms. WARREN. Mr. President, I am noticing that the Senator, rightly, points out that the President has the power to pardon. There is nothing in our proposed resolution that tries to take that away from the President. We understand that. But we do think it is time for Congress to use its voice for this U.S. Senate to stand up and say: Pardoning a convicted criminal who has facilitated child trafficking, who has facilitated drug trafficking, who has facilitated terrorism around the world is a really bad idea. That is what this resolution is all about. So I understand that the Senator has concerns, but those concerns could be registered by the Republicans by simply signing on to a resolution that says we do not believe it is right to pardon someone under these circumstances. I am glad to hear that the Senator is working on a market structure bill that will presumably avert this kind of problem and deal with the corruption of the Trump family as it relates to cryptocurrency. So I look forward to seeing that and just can't wait to see what the provisions are that stop Donald Trump from this kind of self-dealing and from what appears to be bribery right out in the open for the entire world to see. I yield the floor.

Ms. WARREN. Mr. President, American families are struggling to pay for groceries and rent. Federal workers are missing paychecks. Americans across the country are watching as their health insurance premiums skyrocket. But what is President Donald Trump focused on? He has pardoned a convicted crypto billionaire who helped the Trump family get even richer. Changpeng Zhao, known as CZ, founded Binance--a giant crypto exchange that became a home for terrorists, child abusers, and other criminals. Both Republican and Democratic policymakers have been ringing the alarm on Binance for years. Two years ago, several of my Republican colleagues warned that this crypto platform was facilitating ``significant illicit finance activity'' and that it could ``be providing material support to entities engaged in terrorism under Federal law, or being willfully blind to the fact that it may be doing so.'' Another one of my Republican colleagues warned that CZ was misleading the public about Binance's operations in China. Republicans and Democrats were right to be worried. Binance facilitated financing for terrorist organizations like ISIS, Hamas, and al-Qaida. It opened the spigot for Iran. Binance made it easier to finance child sexual abuse. One Binance employee even wrote that they needed a banner that said: [I]s washing drug money too hard these days? Come to Binance, we got cake for you. Binance put its profits ahead of following the law and ahead of America's national security. This was criminal activity. Binance pleaded guilty to multiple criminal charges and was required to pay a penalty of more than $4 billion. CZ pleaded guilty to criminal charges and went to prison for willfully failing to maintain an effective anti- money laundering program that could have prevented financing these terrorist and drug traffickers. Oh, but CZ got a lucky break. A month after he was released from prison, Donald Trump was elected President, and CZ had bet on the right horse. Remember, CZ is still the biggest shareholder in Binance, and right before the election, Binance reportedly offered to strike a crypto business deal with the Trump family. When Trump launched his own crypto venture, Binance allegedly wrote the code. And now, all of this is paying off big time for CZ, Binance, and the Trump family. In May, a United Arab Emirates investment firm used the Trump family's stablecoin to buy a $2 billion stake in Binance, and President Trump and his family will make millions of dollars in fees and interest off just that one deal. In the middle of all of this, CZ applies for a pardon. And last Friday, Donald Trump gave it to him. When asked about his pardon of CZ, the President said that ``a lot of people say he wasn't guilty of anything.'' But one of my Republican colleagues rightly said: He was convicted. He's not innocent. Once again, President Trump has shown the American people that he is willing to turn a blind eye to money flowing to terrorists and child abusers so long as it lines his own pockets. Pardoning convicted crypto billionaires sends a message: If you have money and the right connections, you don't have to follow the law. You get a special deal after you have broken the law. Congress needs to stop this kind of corruption. Today, we can send a message, a message that President Trump's pardon is wrong. We also have an opportunity to head off more corruption as Congress considers crypto market structure legislation. If Senate Republicans don't let us fix this, then the Senate Republicans own this corruption and lawlessness. I yield the floor to my colleague.

Ms. WARREN

Ms. WARREN. As I was saying, I was talking about what this $40 billion that Donald Trump is sending to Argentina could be used here at home, and that is to stop the doubling of health insurance premiums, to restore food assistance for families that the Trump administration is cutting, to cancel student loan debt, to fund public media, and to restore humanitarian aid and USAID. To put it in a different perspective, that same $40 billion could fund childcare for military families for nearly 20 years; it could fund the Consumer Financial Protection Bureau to stop big banks and giant corporations from scamming people, for almost 50 years; and it could pay for 100 Qatari jets--one for every Governor in the United States, plus a spare jet for them. So there you have it. Remember Donald Trump's promise to lower costs for Americans on day one? Well, instead, Donald Trump is bailing out his ``favorite President'' and bailing out rich Wall Street investors who invested in Argentina debt. The American people are begging us to do something about the skyrocketing cost of living. They are crying out for help. But Donald Trump can't hear them over the sound of the bulldozers that are demolishing a chunk of the White House to build his brandnew ballroom, a $250 million ballroom--a monument to Donald Trump himself, paid for by big corporations that are trying to suck up to the administration for special favors. The American people told Donald Trump to cut the cost of living. Instead, he is cutting off part of the White House for his new billionaires' ballroom. Families are missing car payments, but Donald Trump is too busy building his ballroom to notice. The price of coffee is up nearly 30 percent, but at least Donald Trump will have a fancy, new ballroom in the White House. The price of coffee is up nearly 30 percent, but at least Donald Trump will have a fancy, new ballroom where the White House is supposed to be. Farmers are going bankrupt, but Trump is too worried about the construction of his ballroom to help. The cost of baby strollers--or, as Donald Trump calls them, the things you carry babies around in--those are going up, but Trump is too busy building his fancy ballroom to notice. So my friend Jeff Merkley is exactly right. We are not in normal times. All of us need to stand up, speak out, and push back. My question for you, Senator Merkley, is, How is the fight to lower costs for families all around this country linked to the fight against Donald Trump's authoritarianism?

Ms. WARREN. OK. I am almost there. Am I recognized to do that, Mr. President?

Ms. WARREN. I yield the floor.

Ms. WARREN. Thank you very much. I just want to go back to this point as I tee up the question for Senator Merkley here, and that is, Donald Trump right now is sending $40 billion to Argentina, and I just want to go through the list again about what could we do with that $40 billion if we kept it right here in the United States. Forty billion dollars would stop health insurance premiums from doubling. Forty billion dollars would restore food assistance for families that will be hurt by Donald Trump's cuts. Forty billion dollars would cancel a chunk of student loan debt for nearly 4 million borrowers. Forty billion dollars would fund public media.

Ms. WARREN

Ms. WARREN. Thank you very much. My friend Senator Jeff Merkley is ringing the alarm bell. He is carrying the momentum of millions of peaceful protesters at No Kings Day, directly onto the floor of the U.S. Senate for all of the spineless Republicans in Congress to see. I want to be clear here: Peaceful protest is patriotic. Holding the floor to protest the Trump administration's lawlessness is patriotic. Standing up for what is right, that is patriotic, and I am proud to join my friend, Jeff Merkley, in saying this part out loud: Donald Trump is not a King. He will never be a King. And America does not bow down to Kings. So thank you, Jeff, for reinvigorating that energy and bringing it to the floor of the Senate today and every day. You are a true patriot. So let's talk for just a minute about what is going on here. New reporting from the Wall Street Journal this morning says that the average cost of a family health insurance plan is now $27,000 a year. That is a stunner, $27,000. And that is after years of rising costs. The cost of healthcare is rising faster than inflation. Healthcare is too expensive, and families are barely hanging on. So what do we have to do? We have to protect Americans' healthcare and lower costs for families. Seems pretty obvious, right? Not to Donald Trump. In fact, Donald Trump and the Republicans are doing the exact opposite. Their genius plan was to pass legislation that would rip away healthcare from 15 million Americans, jack up premiums for millions more, force rural hospitals and community health centers to close down, and shut down the entire government, instead of coming to the table to save healthcare and lower costs. Now, Republicans just keep bowing down to Donald Trump. They seem to have lost their spines. Every one of them needs to go to the doctor and get a spine transplant. But instead, they are willing to make it more expensive for everyone else to go to the doctor. Make no mistake, our healthcare system is already broken, but Donald Trump and the Republicans are making the problem so much worse. Families in Massachusetts are now starting to get notices this week telling them that their healthcare premiums are going up next year. We are talking hundreds of dollars a month. Some families are seeing their premiums more than double; others will get priced out of their plans completely, leaving them with no coverage at all. And it is not just Massachusetts; Americans across the country are counting on us to lower healthcare costs, and I want to share some of their stories right now. From a family who gets their healthcare through the healthcare exchange: If our premium doubles, we will simply not be able to afford it. Either my husband or I will have to scramble to find a job with benefits in a saturated market or we will be going without insurance for the time being. So that is the story of a family that could get kicked off their insurance altogether because their costs will go through the roof. More uninsured people mean more costs for everyone else, and that is a lose-lose for the American people. Here is another one from a teacher: My healthcare costs are going up by 39 percent. How do I even live? Families across this country are asking themselves exactly the same question. Democrats are here right now fighting for every single one of those families. Here is a story from someone else: If my premiums go up, I have to cancel my insurance because my check would be gone, and I have an autoimmune disease. It would be over for me. How could I raise my two boys and care for my parents? I am the stronghold of the family. That is the reminder that this kind of increase that the Republicans are imposing on American families, this increase in health insurance, it has echo effects. It is not only the person who can't afford insurance for themselves, it is what happens to her two children, what happens to her older parents that she is taking care of. Families hanging on by their fingernails cannot afford insurance premiums jumping by hundreds of dollars a month. Those are the families the Democrats are fighting for right this minute. And Republicans won't even come to the table. Republicans are off on vacation. Here is another story I received from a type 1 diabetic: I have an ACA plan that makes my insulin affordable. Without it, my insulin would be $1,000 a month. Please don't give up this fight and please continue to stand for people just like me. We will not stop fighting for you. Here is another one: Ours will go from $1,300 monthly to $3,600 monthly. It is paramount. Look, $1,300 monthly--$1,300 a month for healthcare is already too much, but this family will now have to pay nearly triple. For families already struggling with the rising cost of everything, they cannot afford to shell out extra thousands of dollars every month for healthcare. So you are hearing all of this right. Americans are struggling to get by, Republicans won't come to the table to fix it and end the government shutdown, and instead of working to lower healthcare costs for Americans right now, Trump is bending over backward to dig up $40 billion to bail out his political buddy in Argentina and help out Wall Street hedge fund investors--$40 billion. So what could $40 billion do for us at home for a whole year instead? Well, $40 billion could stop health insurance premiums from doubling. It could restore food assistance for families that will be hurt by Trump's cuts. It would cancel a chunk of student loan debt for nearly 4 million borrowers. It would fund public media. It would restore cuts to humanitarian aid and USAID. And to put it in even more perspective, that $40 billion that Donald Trump is sending off to Argentina, it could fund childcare for military families for almost 20 years. It would fund the Consumer Financial Protection Bureau to stop big banks and giant corporations from scamming people for almost 50 years. And it could pay for 100 Qatari jets, meaning one for every Governor of all 50 States and a backup plane for each and every one of them. So there you have it. Remember Trump's promise to lower costs for Americans on day one?

Ms. WARREN. I do. Mr. President, I am seeking recognition.

Ms. WARREN

Ms. WARREN. Mr. President, the reason that I asked for unanimous consent to proceed with the No Argentina Bailout Act--it is a bill that I coauthored with Senators Kaine, Van Hollen, Booker, Smith, Gallego, Sanders, and Welch, and the reason for this is because, in his Presidential campaign, Donald Trump promised to put ``America First''-- not Argentina first; America first. Right now, American families are struggling to pay for groceries and rent because of Donald Trump's chaotic tariffs and other disastrous economic policies. President Trump and congressional Republicans shut down the government because they refused to work with Democrats to pass a bipartisan budget that would protect 15 million Americans' healthcare and prevent insurance premium hikes for tens of millions more. Now, Republicans would rather shut down the government than help Americans afford healthcare. Because of the Republican shutdown, more than a quarter of a million Federal employees won't receive their scheduled paychecks. National parks are understaffed, and some are even closed entirely. Air traffic controllers and TSA agents aren't getting their paychecks, and shutdown-related staff shortages have led to flight delays. Critical government Agency functions are being affected across the board, but one government function that President Trump didn't want to shut down: sending $20 billion--American taxpayer dollars--to Argentina. That is right. Even while the Trump administration is trying to fire more American workers and shut down more services here in the United States, Donald Trump is carefully keeping open the office at the Treasury Department responsible for executing his bailout of Argentina's financial markets. The administration agreed to send $20 billion in American taxpayer money to Argentina's central bank, and that loan is evidently just the start. Secretary Bessent also revealed the Treasury started purchasing Argentine pesos directly and promised that going forward, Treasury would do whatever it takes to keep Argentina's financial markets afloat, including buying up the country's debt. Secretary Bessent seems to be saying that the American economy can tank, and Americans can pay higher prices, but there will be no end to using American taxpayer dollars to bail out Argentina. For Trump, the leader of Argentina is more important than American families struggling with rising costs for healthcare. This is a bitter blow, but for American farmers, the story is even worse. For months now, American farmers, particularly American soybean farmers, have been suffering under the weight of Trump's sweeping tariffs. Buyers around the world have been reluctant to purchase from our farmers when Trump is slapping tariffs on their home countries. While our farmers suffer, other countries sense an opportunity for themselves. A few weeks ago, Argentina cut a deal with China to boost the sales of their soybeans and leave American soybean farmers out in the cold. After Argentina took those actions, after Argentina cut a deal to take the legs out from underneath American farmers, Trump authorized a $20 billion bailout for Argentina. This development is so terrible for American farmers and so embarrassing that the Treasury Secretary was caught looking at frantic texts from President Trump's own Agriculture Secretary, complaining that the United States is bailing out a country that cozied up to China at the expense of American farmers. So why is Donald Trump backpedaling on ``America First'' to make it Argentina first? Because Donald Trump's personal friend, close political ally, and ``favorite President,'' Argentine President Javier Milei, is facing a critical midterm election in the coming weeks, and he is in trouble. Milei's popularity has plummeted in recent months because of his ongoing corruption scandals and the complete failure of his radical economic agenda. As a result, his party suffered a surprising defeat in local elections in September. Now, the election coming up on October 26 will determine whether Milei can keep exerting control over Argentina's legislature. With global investors pulling their money from the country trying to get off his sinking ship and destabilizing its financial markets, his party's electoral chances looked really slim. So Trump is sending 20 billion U.S. taxpayer dollars to bail out Argentina and prop up Milei so can stay in power. That is Argentina first, not ``America First.'' But there is more. The bailout for Argentina also helps Treasury Secretary Scott Bessent's billionaire hedge fund buddies. Bessent's pals have bought up Argentina's debts, and if Argentina goes down, those Wall Street billionaires could lose a lot of money. Bailing out Argentina gives an off-ramp to the Wall Street giants who want to exit their investments. And meanwhile, here at home, the Trump administration is pushing 15 million Americans toward an unwanted off- ramp from their current healthcare. The No Argentina Bailout Act is really very simple. It would stop Donald Trump from using Treasury's Exchange Stabilization Fund to provide direct or indirect financial assistance to Argentina, including through the use of currency swap lines, currency or sovereign debt purchases, or direct loans. Any existing financial contracts or instruments that violate this prohibition would have to be sold or terminated within 7 days. The prohibition expires at the end of President Milei's term in December 2027. And if, for some unforeseen reason, it is actually in America's interest to provide economic aid to Argentina during this period, the administration can come here to Congress and get approval. Today, President Trump hosted the President of Argentina at the White House after showering his country with American taxpayer money. It is shameful that President Trump is propping up a foreign government while he shuts down the American government. It is simple: If you really want to put ``America First,'' then you will support American farmers and American families and urge passage of the No Argentina Bailout Act. I yield the floor.

Ms. WARREN. Mr. President, I ask unanimous consent that the Committee on Banking, Housing, and Urban Affairs be discharged from further consideration of S. 2965 and the Senate proceed to its immediate consideration; that the bill be considered read a third time and passed and the motion to reconsider be considered made and laid upon the table, with no intervening action or debate.

Ms. WARREN

Ms. WARREN. Madam President, we have a responsibility to ensure that the United States remains the world's leader in advanced technology. There is broad bipartisan agreement that we should be developing the most sensitive, cutting-edge technologies right here at home, rather than funding their development in countries that do not share our values. This amendment would advance that goal by codifying a program to screen specific types of U.S. investments in China and other countries of concern. It would protect our national security and help ensure that American ingenuity, innovation, and investment do not end up turbocharging these countries' advancements in fields like artificial intelligence, quantum computing, and microelectronics. I commend Senators Cortez Masto and Cornyn for their leadership in this effort and look forward to working with my colleagues to get versions of this important legislation signed into law. Today's vote is an important bipartisan step to protect American innovation and safeguard our national security. I urge a ``yes'' vote.

Ms. WARREN. I urge a ``yes'' vote.

Ms. WARREN. Mr. President, I rise to support Senator Scott's bill that would increase oversight of the Federal Reserve. I believe in Fed independence so the Fed can do its work setting interest rates and maximizing employment, but independence does not mean insulation from following the rules--especially ethics rules. For years, the Fed has rebuffed congressional oversight, and for years, Fed officials have been caught up in ethics scandals without any accountability. Unlike virtually every other major Federal Agency, the Fed hires and fires and sets the salary for its own inspector general. That means that in 2021, when high-level Fed officials were embroiled in a scandal involving financial trades they made during the COVID pandemic, the Fed's own in-house IG conducted the only investigation and said, essentially: Nothing to see here. Maybe that is right, but the Fed's watchdog should be truly independent and able to call out abuses.

Ms. WARREN. Mr. President, during the 2008 financial crisis and the $700 billion bailout for giant banks, the Federal Reserve exploited another authority to shovel money out the back door and into the hands of those giant banks. For the first time ever, the Fed started paying interest on overnight funds that big financial institutions deposit with the Fed. This was a dream come true for those financial giants--no risk and lots of free money printed by the Fed. How much money? Seven hundred eighty-five billion dollars since 2008. Some of that money could have been used to pay down the national debt or fund tax cuts or whatever Congress wanted. Instead, public money went straight into the pockets of giant banks. And the Fed has a very convoluted argument about why they should be allowed to pay interest, claiming it helps them set interest rates. But no one is fooled. Before 2008, the Fed managed interest rates while paying zero on overnight funds and never had a problem. Let's call this out for what it is: another taxpayer subsidy for giant banks. If another emergency happens and the Fed needs authority to lend out money like that, make them come to Congress, and let's get a vote on it. Last year alone, the banks earned $270 billion in profits. Jamie Dimon made $39 million. Other megabanks' CEOs made at least $30 million. The banking industry does not need another subsidy from American taxpayers. This bipartisan proposal would end that subsidy. I urge a ``yes'' vote on Paul No. 3761. And understand, today's vote is just the start of a bipartisan fight to get this bill signed into law. I yield the floor.

Ms. WARREN

Ms. WARREN. Madam President, it has been 1 whole week since Republicans shut down the government. So why did they close the government? Because Republicans decided they would rather shut down the entire government than lower costs and save healthcare for millions of Americans. Donald Trump and Republicans in Congress are knocking 15 million people off their health insurance, driving up the cost of healthcare for everyone else, closing rural hospitals, shutting down community health centers, and much, much more--all so that they can fund giant tax cuts for billionaires. Those are Republican priorities. Democrats are fighting to prevent insurance premiums from doubling. We are fighting to help American families hang onto their health insurance, because no one should go bankrupt because they got sick and needed to see a doctor. In the next few days, Americans will begin getting letters in the mail, telling them their insurance premiums are going up--way, way up. For some families, those premiums are doubling. Others will get priced out of their plans completely, leaving them with no coverage at all. Here is what that means: Thanks to Republicans in Congress, a 60- year-old couple making $85,000 a year will have to pay more than $22,000 every year to keep their coverage--$22,000. For families already hanging on by their fingernails, that could be a matter of keeping healthcare coverage or just giving up, and that could be a matter of life and death. I know what it is like. Growing up, there was never a time when my family didn't worry about money. My daddy ended up as a janitor. When I was 12, my daddy had a heart attack. He lost his job. The family's station wagon was repossessed, and we were about to lose our home. My mother had never worked outside the home, but that is when she put on her best dress, got herself a minimum wage job of answering phones at Sears, and saved our home and saved our family. Our healthcare system was already broken with high premiums, insurance denials, and huge copays, and that was before Donald Trump and the Republicans decided to make the healthcare crisis so much worse. Democrats are fighting to reverse Republicans' giant healthcare cuts and lower costs for Americans. Right now, it is only the Republicans in Congress who stand in the way. Affordable Care Act tax credits help people afford their healthcare, and they are set to expire at the end of the year. And insurance companies are resetting their rates right now--right now. We are barreling toward a tipping point for American families. If Congress does not act, nearly 22 million Americans will see their health insurance premiums more than double on average. Democrats want to lower those costs right now. Republicans are shutting down the entire government instead of coming to the table to help American families. An overwhelming majority of Americans wants us to extend these tax credits so that insurance premiums don't go through the roof. Even most Trump supporters agree with us on this. Donald Trump himself just said he wants to make it better. It is only Senate Republicans who are standing in the way. Senate Republicans have refused to even sit down and negotiate over healthcare cuts, even though thousands of their constituents will see their costs go way up. For example, in Alabama, about 447,000 Americans will see their insurance premiums skyrocket. In Alaska, about 24,000 Americans will see their insurance premiums skyrocket. In Arkansas, it is about 144,000 Americans. In Florida, it is 4.4 million Americans. In Idaho, it is 101,000 Americans. In Indiana, it is 290,000 Americans. In Iowa, it is 118,000 Americans. In Kansas, it is 182,000 Americans. In Kentucky, it is 77,000 Americans. In Louisiana, it is 276,000 Americans. In Maine, it is 54,000 Americans. In Mississippi, it is 320,000 Americans. In Missouri, it is 383,000 Americans. In Montana, it is 67,000 Americans. In North Carolina, it is 888,000 Americans. In North Dakota, it is 38,000 Americans. In Ohio, it is 514,000 Americans. In Oklahoma, it is 290,000 Americans. In Pennsylvania, it is 422,000 Americans. In South Carolina, it is 588,000 Americans. In South Dakota, it is 50,000 Americans. In Tennessee, it is 593,000 Americans. In Texas, it is 3.7 million Americans; nearly 4 million Americans will see their insurance premiums skyrocket. In Utah, it is 395,000 Americans. In West Virginia, it is 63,000 Americans. In Wisconsin, it is 272,000 Americans. In Wyoming, it is 43,000 Americans. Look, Democrats are fighting to lower costs for every single one of those Americans. Where are their Republican Senators? Those were the insurance premiums, which will cause about 5 million people to lose their coverage because they just can't afford those higher costs. But Republicans are also cutting healthcare for another 10 million Americans. Those are seniors in nursing homes, mamas with newborn babies, and it is your neighbor who needs a wheelchair or a home health aide to be able to live independently. Democrats have said, time and time again: If Congress is going to pass a budget for the U.S. Government, then saving healthcare for those millions of Americans has to be part of the deal. We will not stop fighting for Americans' access to their doctors and to their hospitals. What has been the response of Donald Trump? He doesn't want to talk about healthcare. Nope. Instead, his plan is to inflict maximum pain on Americans during this Republican shutdown. His right-hand man, Russ Vought, is shutting down important infrastructure projects as political punishment. They are threatening to fire many more Federal workers. And get this: The White House is furloughing hundreds of staffers because of the Republican shutdown, but they are keeping every single DOGE staffer on. In total, the Trump administration is furloughing over half a million workers who work every day to keep our country running. But at least Elon Musk's pals at DOGE are safe, and that tells you everything you need to know about the Republican plans. Look, this may feel like a surprise to millions of Americans, but the Republican attack on Americans' healthcare has been long in the making. It is exactly the shutdown playbook Donald Trump and his lackeys laid out in their Project 2025. Since day one, Trump has tried again and again and again to shut down the parts of government he just doesn't like. He has tried to illegally wipe away millions of dollars for programs that Congress had already agreed to fund. He has illegally fired tens of thousands of Federal workers. He has illegally sent our troops to invade American cities. The response of Republicans in the Senate has been to bow down and let Donald Trump do all of that and more. Now, during a government shutdown, the President of the United States is saying: ``A lot of good can come'' from a shutdown, and ``we can get rid of a lot of things we didn't want.'' While all of that is going on, why would Democrats sign off on a Republican budget without ironclad guarantees to make sure that Trump won't just turn around and go back on the deal and not lower costs for families? The answer is, we won't. While Senate Republicans keep taking orders from their wannabe King and drag out their government shutdown, Senate Democrats will not stop fighting to save healthcare and to lower costs for families. We want rollbacks of the Republican cuts that will take away healthcare coverage from 15 million people and drive up insurance premiums for everyone else. This is not a partisan issue. This is not a partisan fight. Democrats are in this fight for all Americans, and we urge Senate Republicans to join us to protect healthcare coverage for millions of Americans and end this painful government shutdown. I yield the floor.

Ms. WARREN

Ms. WARREN. Mr. President, in July, when Republicans voted on the first spending bill for 2026, with cuts that would knock 15 million people off healthcare, I stood right here, and I asked my Republican colleagues in the Senate to grow a spine and stand up for Americans. We are here today because the Republicans refused. Instead, Republicans bowed down to Trump, and, now, people all across this country will suffer. Let's be clear: Republicans shut down the government because they would rather make healthcare more expensive than keep the government running. That is literally where we are right now. Republicans control the House. Republicans control the Senate. Republicans control the White House. They are in power. It is their job to keep the government running for the American people, and they have failed. Donald Trump and the Republicans own this shutdown. Don't take it from me. Listen to Donald J. Trump. In 2013, Trump himself said about a potential government shutdown: If there is a shutdown, I think it would be a tremendously negative mark on the President of the United States. He's the one that has to get people together. That is Donald J. Trump. Now, at the same time, Trump said: The President has to lead. You have to get people in a room, and you have to just make deals for the good of the country. Donald Trump today should listen to Donald Trump from yesterday. Instead, Trump, Mr. ``Art of the Deal,'' hasn't been able to cut a deal for the most basic government functions. Wow. As Trump said, that is ``a tremendously negative mark on the President of the United States.'' Let me say it again. Democrats are fighting to roll back the Republican cuts that would take away healthcare from millions of people and raise health insurance premiums for millions more. That is it. That is what we are asking for. We have been asking for months to negotiate over this, and the Republicans have said no. What are they doing right now? Are they making counteroffers? Are they saying, ``We could go this far, not this far''? Nope. They are simply saying no. So now, when a family is forced to the brink of bankruptcy from one bad medical diagnosis, Trump and the Republicans own it. Republicans insist that those healthcare cuts go through. When community hospitals have to shut down, Trump and Republicans own it. When kids with cancer can't get treatment because potentially lifesaving research grants come to a screeching halt, Trump and Republicans own it. When insurance premiums skyrocket, Trump and Republicans own it. Healthcare in America was already broken, but Trump and Republicans are making it much, much worse. They ripped away money that covers mamas giving birth and neighbors who need wheelchairs and home health aides, and they handed it over to giant corporations and billionaire CEOs. Democrats believe that no one should go bankrupt because they got sick and needed to see a doctor. So Democrats are here to say we are willing to fight for families who need healthcare. If Congress is going to pass a budget for the U.S. Government, then Democrats want saving healthcare for millions of Americans just to be part of that deal. Democrats have made that clear, and Republicans have refused even to talk about it. Trump is already doing his best to shut down government or at least to shut down the parts of government that he doesn't like. Since day one, Trump has been trying to illegally wipe away millions of dollars for programs that Congress already agreed to fund. Trump and his buddy Elon Musk have fired tens of thousands of Federal workers. Trump is declaring American cities as ``war zones'' and sending troops to invade communities. Trump is playing King time and time again, and Republicans in Congress are bowing down and letting him do it. While all of that is going on, Republicans in Congress want Democrats just to sign a blank check and hand it over to Trump and let him continue to shut down whatever he doesn't like and to destroy our democracy. They want us to agree to a budget, knowing full well that Trump will then turn around tomorrow and delete this part or that part or whatever he doesn't like, just like he has already done. Why would we play along with that farce? Why would we throw our support behind a deal that, any time, any day, Trump could just decide he doesn't feel like honoring it? And why would we do that without getting anything in return to help American families who are struggling with high costs, particularly the healthcare costs that Republicans are driving up? To do that would be a betrayal of the American people. Senate Democrats are holding the line for families. Senate Republicans decided they would rather take orders from a wannabe King and shut down the entire government instead of helping out families who are getting squeezed on healthcare costs. It really is that simple. Make no mistake, this Trump shutdown will hurt people. Because of Republicans, children across this country could lose access to childcare through Head Start. Because of Republicans, the National Institutes of Health Clinical Center will now stop enrolling patients in clinical trials that could be their only shot at treatment. Because of Republicans, air traffic controller hiring will stop, at a time when we are already dealing with a dangerous shortage. Because of Republicans, park rangers and thousands of other civil servants won't get paid. Because of Republicans, Donald Trump's corruption and chaos will continue. So what is next? Well, Democrats want to keep the government open, and we want rollbacks of the Republican cuts that will cost 15 million Americans their healthcare coverage and drive up insurance costs for everyone else. This isn't partisan. This is a righteous fight on behalf of everyone who needs healthcare, everyone who might need to go to the hospital, everyone who counts on a community clinic or a home health aide, whether they are a Democrat, a Republican, an Independent, or a ``none of the above.'' We are in this fight for Americans and for American healthcare, and it is only the Senate Republicans, led by Donald Trump, who stand in the way. I yield the floor.

Ms. WARREN

Ms. WARREN. Mr. President, we are in the middle of a full-blown healthcare crisis. Donald Trump and Republicans in Congress are ripping away healthcare from 15 million Americans. And now, thanks to Donald Trump, one in four nursing homes could close, community health clinics are on the brink of shutting their doors, hospitals, already filled to the brim with patients, are bracing for the biggest cuts in decades. Kids with cancer are watching as promising research, their only chance at treatment, is shut down and health insurance premiums are skyrocketing. Talk to anyone in the country, and they will tell you that the cost of going to the doctor is already way too high because the reality is that healthcare in America was already failing families even before Trump and Republicans took a chain saw to it. Massachusetts lost two hospitals last year in the biggest healthcare bankruptcy in decades. Our community health centers were already down to counting their nickels to keep the door open. And now, the Republicans have come in and said they want to take away money that helps cover mamas giving birth and neighbors who need wheelchairs and home health aides so that they can hand that money over to billionaire CEOs. Trump's one-two punch of chaotic tariffs and his Big Beautiful Bill is going to push middle-class families in America over a financial cliff. Before working moms go broke from a cancer diagnosis, Congress must act. Before community hospitals are forced to shut down, Congress must act. Before your neighbor with the home health aide loses his care, Congress must act. That is why Democrats are saying, if Republicans want our votes, they need to restore healthcare for Americans. We made it about as clear as we humanly can. The American people need affordable healthcare. No one should go bankrupt because they got sick and needed to see a doctor. And if the Republicans want to shut down government so that they can keep increasing costs and cutting healthcare, then they need to explain that and not just to us; they need to explain it to the American people. Every Senator here is here to work for the American people, and part of that job is coming to the negotiating table and making a plan to fund government. But Donald Trump flat-out said he doesn't want to negotiate with Democrats. He said: Don't even bother dealing with them. OK, then, Republicans control the House, the Senate, and the White House. You own the healthcare crisis. Democrats believe that not a single newborn baby in America should lose healthcare, not a single senior should be tossed out of their nursing home and onto the curb, and not a single person should have to drive hours and hours to get to the nearest hospital. If we are going to pass a budget for the U.S. Government, then we need to save healthcare for millions of Americans, period. And make no mistake, every penny of funding needs to be protected from a Trump power grab. Since the week he took office, Donald Trump has been trying to illegally rip away money from programs that Congress has already agreed to fund. His latest ploy: an attempt to zero out funding without even asking for Congress's approval. It is a dirty trick, and it is illegal. We can't have Democrats and Republicans in Congress agree to a budget that helps people get to the doctor and pay for lifesaving cancer research and then turn around and have Donald Trump just halt that money. We need proper safeguards. So this is our moment. This is our chance to restore healthcare for millions of people in this country. Right now is our small window of opportunity. The Democrats are ready to go. We want to seize this opportunity. It is only the Republicans who stand in the way. I yield the floor.

Ms. WARREN

Ms. WARREN. Madam President, I ask unanimous consent that the order for the quorum call be rescinded.

Ms. WARREN

Ms. WARREN. Madam President, I rise today to oppose the nomination of Dr. Stephen Miran to serve on the Federal Reserve Board of Governors. President Trump has run a monthslong campaign to turn the Fed into his personal piggy bank in an attempt to escape accountability for his own economic failures. He has tried to intimidate and threaten to fire Federal Chair Jerome Powell. And when that didn't work, he illegally attempted to fire Fed Governor Lisa Cook so that he could seize control of the Board. Both of those failed. So now he is attempting to install his own puppet on the Board with Dr. Miran, someone who intends to keep his White House job as the President's chief economic adviser open while serving at the Fed, setting up an unprecedented and unacceptable conflict of interest that will only ultimately cause more pain for American families. Don't just take it from me. Take it from one of the President's closest advisers, Larry Kudlow, who said: The bottom line is, President Trump's going to take the Fed over, as he should. And Senate Republicans are facilitating it, including by jamming through this nomination at warp speed so that Dr. Miran can be sworn in literally hours before the Fed's meeting tomorrow morning to determine interest rates. The facts are clear: Donald Trump promised that he would lower costs, in his words, ``on day one.'' Those were his words. He said them over and over as he ran for President: He would lower costs on day one. He didn't. Now the cost of groceries: up. The cost of utility bills: up. The cost of housing: up. The cost of healthcare: up. The cost of back- to-school shoes and backpacks and baby strollers: up and up and up. He also promised a golden age for American workers. Again, he has failed. Job growth is down. The economy lost jobs in June. Unemployment is up. People are staying unemployed longer, and worker confidence in the labor market is at its lowest since the end of the great financial crisis. Donald Trump can reverse course on his failing economic agenda. He could start helping families instead of turning everything over to his billionaire buddies. Instead, Trump wants to point the finger at everyone else and make the Federal Reserve his scapegoat. If Republicans let Trump interfere with the Federal Reserve, American families and businesses will pay the price in terms of higher costs going forward. Here is why: Congress created an independent Fed to keep politicians from making shortsighted economic decisions that would benefit the politicians politically. Sometimes the Fed is called on to make really hard decisions about when to raise interest rates when fighting inflation, and the whole world needs to know that the Fed is making these decisions based on data rather than being influenced by politicians. If the Fed loses its credibility, businesses and consumers will stop trusting the Fed to control inflation, and they will start acting like inflation is here to stay, and that will make prices soar. This is not a hypothetical. When autocrats take over their central banks, inflation follows. Turkiye hit nearly 80-percent inflation. Argentina reached nearly 200-percent inflation. Even here in America, back when Richard Nixon pressured the Fed to serve his political needs instead of American families', prices went up. If Trump can control the Fed, the cost of Americans' credit cards and car loans and home mortgages and student loans and more will all be higher. So today's vote is not just about Dr. Miran; it is a question of whether the Senate allows President Trump to succeed in this next phase of his very public, very obvious, monthslong campaign to stack the Fed with loyalists who will prioritize Trump's personal whims over America's long-term economic health. And throughout this confirmation process, Dr. Miran has spectacularly failed to demonstrate independence from dear Leader Trump. During his confirmation hearing, Dr. Miran could not say the words ``Donald Trump lost the 2020 election,'' making Dr. Miran the first admitted election denier to sit on the Federal Reserve Board. Dr. Miran refuses to resign from his current job at the White House as the President's chief economic adviser at the Council of Economic Advisers. Dr. Miran's so-called leave of absence from the Council of Economic Advisers is also just a joke. He will be sitting literally down the street from the White House, and he has refused to disclose any communications he has with the White House while he is at the Fed. And, look, let's be 100-percent clear here. The vote we are taking today is not to confirm Dr. Miran for a 4-month term at the Fed, the official vote. When the lights were off and the cameras stopped rolling, Dr. Miran confirmed in writing that he will not rule out staying in his seat after his term expires this January. That means he could serve as a Fed Governor and as the President's chief economist simultaneously for an indefinite period. Even if none of this were happening, Dr. Miran is a terrible choice for this job. He continues to callously dismiss the fact that Trump's policies are raising prices for families. He compares tariff-driven inflation to a meteor strike while dodging questions about his own financial disclosures. Now, look, you won't hear me say this often, but I agree with the Wall Street Journal editorial board when it said that Dr. Miran ``won't be independent in any fair definition of the word.'' Dr. Miran knows that if he is confirmed, every decision he makes and every vote he takes at the Fed determines whether or not he will be able to go back to his White House job later on. That is not independence--that is servitude--and he will have zero credibility with markets, zero credibility with businesses, and zero credibility with the public if he is ultimately confirmed. Many Republican Senators have paid lip service to the importance of Fed independence. Well, if you actually mean it, then you should vote no. Otherwise, we are sentencing American families to years of higher prices and higher unemployment. I urge my colleagues to vote no on Dr. Miran's nomination. I yield the floor. I suggest the absence of a quorum.

Ms. WARREN

Ms. WARREN. Mr. President, I come to the Senate floor to discuss how our government is funded. The Constitution puts Congress in charge of setting up programs and funding them. There are some programs--for example, Medicare and Social Security--that are funded at a certain level every year unless Congress passes a law to change it, but for pretty much everything else, Congress has to pass a new funding law every single year. The list is long. It is medical research, fighter planes, weather satellites, salaries for park rangers, and food inspection programs so that the lettuce you eat doesn't make you sick. The money we spend is detailed every year in a set of 12 bills that Congress votes on, and they are called appropriations bills. The Senate voted on the first one of these 12 bills last week, the one that deals with funding veterans programs and military bases. I care deeply about improving the lives of our servicemembers and our veterans. All three of my brothers were proud veterans, and they served their country with honor. I am the ranking member of the Senate Armed Services Personnel Subcommittee. I voted no on that funding bill because even if this bill becomes law, I don't believe Donald Trump has any intention of following that law, and I am not willing to be a helpmate on another one of Donald Trump's scams. Why do I think that Trump won't follow the law? Well, consider his administration's track record of the past 6 months on congressional spending laws. First, Trump tried to freeze billions of dollars that American families and businesses count on, money that Congress set aside to support everything from food assistance programs to scientific research. Multiple Federal judges blocked the illegal power grab, saying it blatantly violated the Constitution of the United States. Now even Republicans are begging the administration to hand out the money for investments that Congress already passed and, by law, that their communities were promised. Second, Republicans in Congress are bowing down to Donald Trump and ratifying some of his worst efforts. They are using an obscure piece of Federal law to zero out Federal funding after it was approved by both Republicans and Democrats in Congress. This process is called rescission, and it only requires 50 Republican votes to do Donald Trump's bidding. If that wasn't bad enough, Trump is already promising to use a shady loophole to defund even more programs, demanding cuts so late in the year that Congress doesn't have time to do anything about it. The Director of Donald Trump's Office of Management and Budget Russ Vought has already said that the loophole is ``on the table.'' Let's be clear about what is happening here. Step 1, Congress negotiates a compromise that both Republicans and Democrats support, and it is signed into law. Step 2, Trump tells Republicans what parts of that deal he wants to cancel. Step 3, Republicans in the Senate bend the knee and follow Trump's orders to cancel the money. But wait--there is more. Apparently, step 4 is Republicans turn around and, with a straight face, ask Democrats to negotiate more deals for the next year's funding, starting the whole rinse-and-repeat process again, beginning with this bill to fund veterans services. Are you kidding me? Do we really look that gullible? Why should Democrats come to the table and negotiate in good faith and throw our support behind a ``bipartisan bill'' only for Republicans to turn around after the deal is done and, somewhere down the line, delete any parts of the deal that Trump doesn't like? That is like Republicans saying ``Let's cut a deal'' and that you are going to sell us a car today, and then a month from now, the Republicans come back and steal the wheels. Of course, Trump may not ask his Republican buddies to rescind spending. Maybe instead, on his own, he will just illegally refuse to spend it--the way he has done with $425 billion already this year. Look, our Founders didn't give the President the power to decide spending. A King can decide anything he wants but not a President. Donald Trump wants to be able to wake up and decide to cancel funding for public education, for transportation projects, for medical research, for food inspectors, for anything, just because Donald Trump feels like it, and he wants the Republicans in Congress to roll over and let it happen--no checks, no balances; just Trump playing King and ending the programs that would help the American people. Trump is getting a lot of help from his Republican team. Russ Vought, the head of the Office of Management and Budget, has said the problem in Congress is too much bipartisanship--too much bipartisanship. In other words, the Trump administration is saying loud and clear that Donald Trump makes all the decisions. They don't need and they don't want Democrats. At the very same time, the Republicans need Democratic votes for these funding bills because the Senate rules clearly require 60 votes for them to pass and there are only 53 Republicans in the Senate. If Democrats won't provide those votes, the Republicans want to blame Democrats for shutting down the government when this year's funding runs out at the end of September. On the other hand, if Republicans really want Democratic votes for these funding bills, then they should ask us what is it going to take to win Democratic support, not just what programs we want to fund or what the level of funding should be--not that, when the promises themselves won't be worth the paper they are printed on. No. Democrats should tell Republicans that if they want our votes, then they are going to have to guarantee that the deal we strike actually means something. I get it. Democrats and Republicans have different priorities. Here in the Senate, Republicans just voted to end healthcare for 17 million Americans and to drive up health insurance costs for millions more. Republicans have just voted to give billionaires huge tax cuts. Democrats are willing to make a deal, but our deal is about bringing down costs for families, including the cost of healthcare, groceries, and housing. If Republicans want to make a deal, then let's make a deal but only if Republicans include an agreement that they won't take back that deal a few weeks later. Congress is a coequal branch of government. We swore an oath to the Constitution, not to a King. I am asking my Republican colleagues to grow a spine and stand up for Americans instead of bowing down to their pretend King, and I am asking my Democratic colleagues to join me in using the power we have to fight back. I yield the floor.

Ms. WARREN

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

Ms. WARREN

Ms. WARREN. Mr. President, I ask unanimous consent that the following motions to recommit for the bill H.R. 4 be placed in the Congressional Record: 1. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescission of funding that supports public broadcasting in Massachusetts. 2. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescissions to programs that support Palestinian refugees within the Migration and Refugee Assistance account. 3. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescissions to programs that support refugees within the Migration and Refugee Assistance account. 4. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescissions to programs within the Global Health Programs account that support child and maternal health, including through increased access to reproductive health care and family planning. 5. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescissions to programs within the Economic Support Fund account that support human rights. 6. A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would strike any rescissions to programs within the Economic Support Fund account that support mitigating and addressing the risks of climate change. Mr. BOOKER. Mr. President, I ask unanimous consent that the following motion to recommit for the bill H.R. 4 be placed in the Congressional Record: A motion to recommit the bill H.R. 4 to the Committee on Appropriations of the Senate with instructions to report the same back to the Senate in 3 days, not counting any day on which the Senate is not in session, with changes that-- (1) are within the jurisdiction of such committee; and (2) would preserve investments in a just energy transition and in clean, reliable, and affordable energy buildout through development finance investments in Africa that maximize market opportunities for United States companies and save lives.

Ms. WARREN

Ms. WARREN. Mr. President, Senator Richard Durbin of Illinois and Senator Edward Markey of Massachusetts support the motion to commit bill H.R. 1 to the Committee on Health, Education, Labor, and Pensions of the Senate and eliminate provisions that would strike any provision that restricts borrower defense to repayment or closed school discharge. Senators Durbin and Markey know the existing challenges defrauded students and students whose schools precipitously closed face and understand the profound harm student borrowers will face without protections to receive student loan discharges for the loans they took out to attend for-profit colleges that offered no degree or a worthless degree.