Full transcript of
On this “Face the Nation with Margaret Brennan” broadcast, moderated by Margaret Brennan:
- Sens. Richard Blumenthal, Democrat of Connecticut, and Lindsey Graham, Republican of South Carolina
- Sen. Maria Cantwell, Democrat of Washington
- Sen. Rand Paul, Republican of Kentucky
- Rep. French Hill, Republican of Arkansas
Click on right here to browse full transcripts from 2025 of “Face the Nation with Margaret Brennan.”
MARGARET BRENNAN: I am Margaret Brennan.
And this week on Face the Nation: One yr in the past right this moment, a shooter in Butler, Pennsylvania, killed one man and almost assassinated Donald Trump. We are going to take a look on the new findings on what went improper in an unique interview with the Senate chairman behind it.
There are nonetheless questions on what motivated the shooter at that Trump rally in Butler and in addition the miscommunication and poor planning on the a part of the Secret Service and different regulation enforcement businesses.
(Start VT)
DONALD TRUMP (President of america): There have been errors made and that should not have occurred. However I used to be happy by way of the larger plot, the bigger plot. I used to be happy.
(Finish VT)
MARGARET BRENNAN: The chairman of the Homeland Safety Committee, Senator Rand Paul, joins us with the conclusions from his new report.
In Texas, the grueling process of cleanup and restoration continues 10 days after huge flooding killed a minimum of 129 individuals, with dozens extra nonetheless lacking. Was it a preventable tragedy? We are going to discuss with Washington’s Maria Cantwell.
With Russian assaults on Ukraine intensifying and the president’s growing annoyance with Vladimir Putin, we are going to get an replace from the 2 senators pushing for punishing sanctions on Russia, South Carolina Republican Lindsey Graham and Connecticut Democrat Richard Blumenthal.
Lastly, Home Monetary Companies Committee Chairman French Hill will probably be right here to speak about his plans to make the difficult world of cryptocurrency go mainstream.
It is all simply forward on Face the Nation.
Good morning, and welcome to Face the Nation. We now have rather a lot to get to this morning.
So, let’s start with Senator Lindsey Graham in Clemson, South Carolina, and Senator Richard Blumenthal in Bridgeport, Connecticut. They each simply returned from Europe, the place they met with Ukrainian President Zelenskyy.
Good morning to you each, Senators.
SENATOR RICHARD BLUMENTHAL (D-Connecticut): Good morning.
(CROSSTALK)
MARGARET BRENNAN: Senator Graham, I wish to begin with you.
Russia is escalating. They are not ending this warfare in Ukraine.
SENATOR LINDSEY GRAHAM (R-South Carolina): Sure, proper.
MARGARET BRENNAN: NATO’s Secretary-Common goes to be right here in Washington this week, and will probably be assembly with President Trump, who’s, in accordance with our reporting, contemplating contemporary funding for Ukraine.
That may be the primary time since he is taken workplace. What are you aware about what’s coming?
SENATOR LINDSEY GRAHAM: Effectively, I do not wish to get forward of the president, however I am having dinner, together with Senator Blumenthal and different senators, with Secretary-Common Mark Rutte tomorrow evening.
A turning level relating to Russia invasion of Ukraine is coming. For months, President Trump has tried to entice Putin to the peace desk. He is put tariffs in opposition to international locations that permit fentanyl to come back in our nation, different dangerous habits. He is left the door open relating to Russia. That door is about to shut.
Dick and I’ve acquired 85 co-sponsors in america Senate for congressional sanctions with a sledgehammer out there to President Trump to go after Putin’s economic system and all these international locations who prop up the Putin warfare machine. China, India, and Brazil purchase oil and petroleum merchandise and different items from Russia. That is the cash Putin makes use of to prosecute the warfare.
And this congressional package deal that we’re would give President Trump the flexibility to impose 500 % tariffs on any nation that helps Russia and props up Putin’s warfare machine. He can dial it up or down. He can go to zero, to 500. He has most flexibility.
MARGARET BRENNAN: Sure.
SENATOR LINDSEY GRAHAM: However we’re going after the individuals who hold Putin in enterprise and extra sanctions on Russia itself. That is really a sledgehammer out there to President Trump to finish this warfare.
MARGARET BRENNAN: Senator Blumenthal, on these sanctions, the president stated he expects the Senate to cross this measure you place collectively. And he described having the ability to terminate it “as completely at my possibility. It very respectfully lets the president do no matter he needs” and determine whether or not or to not train it.
I do know that has raised some considerations amongst your fellow Democrats, like Senators Kaine and Senator Coons. How do you guarantee them that that is as powerful as you promise?
SENATOR RICHARD BLUMENTHAL: This must be a vital second for these sanctions. And bringing down this sledgehammer at this second was emphasised by the entire European allies who had been on the assembly that Senator Graham and I attended in Europe.
They’re completely in solidarity. One after one other in that closed-door setting expressed the view that these sanctions need to be powerful and rigorous to vary habits.
And so the waiver language that we’ll have on this invoice may be very a lot alike the provisions which have existed in previous comparable measures that give the president the flexibility to behave within the nationwide safety, but additionally present congressional oversight. And I feel that form of assurance to my Democratic colleagues is essential.
However what’s most vital, I feel, at this second, is our unity. Senator Graham and I, Republican and Democrat, coming collectively, the European leaders with various views, additionally in unity. And we wish to make use of the seized belongings, once more, in a unified approach.
I feel a multifaceted method right here is the one technique to carry Putin to the desk, as a result of he is a thug. He understands solely power.
MARGARET BRENNAN: However simply to comply with up on that, the – the seized belongings, there’s, what, $300 billion in Europe. There’s about $5 billion right here in america. Do you get the sense that the president goes to be keen to faucet that and that the European leaders are going to be keen to grab and use that cash?
SENATOR RICHARD BLUMENTHAL: A part of the plan that I feel will probably be sought on this assembly involving the secretary-general is for Ukraine to be given belongings by NATO and their buying these navy belongings from america.
However the seized property, the seized belongings from Russia, may be accessed by the Europeans. They’re devising a plan to do it, a minimum of for part of these belongings, billions of {dollars}, and the curiosity that’s derived from them, very, crucial sources for Ukraine. And the $5 billion that america has additionally could possibly be accessed, and I feel it is time to do it.
MARGARET BRENNAN: And we’ll be speaking to one of many congressmen who put collectively that regulation to have the ability to seize these belongings later in this system.
Senator Graham, I wish to ask you, on the battlefield and with regards to weapons, CBS’ Jim LaPorta has discovered, a current protection intelligence evaluation reveals Ukraine’s shortfall in artillery and in drones will result in marked Russian territorial beneficial properties in 2026, with Russia gaining 7-1 firepower superiority by this winter.
How are you going to get them what they want if Congress is not going to approve within the Home any new funding? Is it what Senator Blumenthal simply laid out?
SENATOR LINDSEY GRAHAM: Effectively, simply keep tuned for tomorrow’s announcement.
The thought of America promoting weapons to assist Ukraine may be very a lot in play. We have given Ukraine rather a lot. We now have given them cash. We give them navy support. We now have a minerals settlement with Ukraine that is value trillions of {dollars}. So, I do not wish to get forward of the president, however keep tuned about seized belongings.
The Europeans wish to restrict the curiosity on the belongings to go to Ukraine. Secretary Bessent needs to go additional. Keep tuned a couple of plan to go after the seized belongings extra aggressively. Keep tuned for a plan the place America will start to promote to our European allies great quantities of weapons that may profit Ukraine.
Putin has calculated that we’d get drained and Europe would get weary. He made an enormous mistake. NATO is larger and stronger, and we’re extra dedicated to ever to ensure he doesn’t take Ukraine by power. So, Congress is on the verge of passing probably the most consequential sanction package deal within the historical past of the – of the nation.
MARGARET BRENNAN: Sure.
SENATOR LINDSEY GRAHAM: It can give President Trump instruments he would not have right this moment, a literal sledgehammer. And the large offenders right here is China, India, and Brazil. India buys oil from Russia low-cost and resells it. That is despicable.
I’m – I’ve talked to President Trump. He stated final week, it is time to transfer. He is tried to entice Putin to the desk. However my purpose is to finish this warfare.
MARGARET BRENNAN: Proper.
SENATOR LINDSEY GRAHAM: And the one approach you are going to finish this warfare is to get individuals who prop up Putin, make them select between the American economic system and serving to Putin. And you’ll solely have one negotiator, and that is going to be President Trump, with most flexibility to finish this warfare.
China, India, and Brazil, you are about to get harm massive time when you hold serving to Putin.
MARGARET BRENNAN: However, Senator, respectfully, the president’s rhetoric has modified this week on Russia. He’s making clear his persistence may be very skinny.
SENATOR LINDSEY GRAHAM: Sure.
MARGARET BRENNAN: However he is acquired proper now at his fingertips…
SENATOR LINDSEY GRAHAM: Sure.
MARGARET BRENNAN: … simply wanting $4 billion in presidential drawdown authority. He would not must ask Congress. He would not must ask the Europeans for that cash. He is acquired it if he needs to faucet it.
Would not it’s a stronger signal if he simply despatched these weapons or surged them?
SENATOR LINDSEY GRAHAM: Effectively – nicely, the $4 billion isn’t almost sufficient. I count on him to train that drawdown authority.
However the recreation relating to Putin’s invasion of Russia is about to vary. I count on, within the coming days, you will note weapons flowing at a document stage to assist Ukraine defend themselves. I count on within the coming days that there will probably be tariffs and sanctions out there to President Trump he has by no means had earlier than.
I count on within the coming days extra help from Europe relating to their efforts to assist Ukraine. Putin made a miscalculation right here. For six months, President Trump tried to entice Putin to the desk. The assaults have gone up, not down. One of many largest miscalculations Putin has made is to play Trump.
And also you simply watch. Within the coming days and weeks, there’s going to be a large effort to get Putin to the desk. And to those that are serving to him, China, shopping for low-cost Russian oil and having no accountability, these days are about over.
MARGARET BRENNAN: Senator Blumenthal, on – on Ukraine, North Korea has been sending troops, as , to combat for Russia in Ukraine. Russia’s prime diplomat was simply assembly with Kim Jong-un.
We all know that the missile know-how Russia is offering them is form of their fee for sending our bodies to combat. Is that going to make a measurable distinction within the North Korean nuclear program? Is there extra of a menace right this moment to the U.S. due to it?
SENATOR RICHARD BLUMENTHAL: The specter of cooperation on that rating, in sending missile know-how to North Korea, in addition to help for Iran that doubtlessly may come from Russia, is a serious piece of proof why we should be robust with our allies in opposition to this axis.
It nonetheless exists. The success in opposition to Iran’s nuclear program ought to not make us complacent in regards to the risks of proliferating nuclear arms. And, completely, sure, we needs to be coming down stronger, not solely on Russia, however North Korea.
And our plan must be to discourage this type of nuclear arms cooperation, which is why our working with our allies is so vital.
MARGARET BRENNAN: Sure.
SENATOR RICHARD BLUMENTHAL: As they went across the room, these are the main European leaders, all of them, assembled collectively final Thursday in Rome, thanking us for being there, Senator Graham and myself, and Common Kellogg representing Trump.
This second of unity should be seized, and the timing is completely vital. President Zelenskyy has been strong and stalwart, however his individuals are being killed by bombs and drones, kids kidnapped. We have to actually categorical the power of america, as a result of solely power can get Putin to the desk.
MARGARET BRENNAN: Senator Graham, on one other subject right here, you’ve been an advocate for the allies of america who had been left behind in Afghanistan following that chaotic 2021 withdrawal by the final administration.
On Friday, the State Division laid off the personnel within the division that helps place these refugees and different allies in america. Two sources with direct information informed CBS that there are about 1,400 Afghan allies with connections to the Pentagon, with connections to U.S. intelligence, they usually’re caught there.
They do not know what’s taking place subsequent. Are you able to cease them from being despatched again to the Taliban?
SENATOR LINDSEY GRAHAM: Sure, I do not suppose there’s any want by anyone to ship individuals who helped us in Afghanistan again to the Taliban management. That is not going to occur.
As to trimming up the State Division, when you’re telling me we won’t cut back the variety of individuals working within the State Division and nonetheless run it successfully, I do not purchase that. We are able to do each.
MARGARET BRENNAN: Effectively – nicely, there are some questions on who’s going to really assist stop them from going again to Afghanistan, which is why I used to be asking you that if you are going to advocate on their behalf.
SENATOR LINDSEY GRAHAM: Positive.
MARGARET BRENNAN: Senator Blumenthal, you sit on the Judiciary Committee, I imagine.
CBS has reported yesterday that the legal professional basic, Pam Bondi, fired 20 DOJ workers who labored on the categorised paperwork circumstances and the January 6 investigations. There are extra firings anticipated. These are profession officers and attorneys who do not choose their assignments. They’re handed out to them.
Is there something that Congress can do to guard a few of these civil servants?
SENATOR RICHARD BLUMENTHAL: Margaret, that is a very vital query, as a result of Pam Bondi has so politicized and weaponized the Division of Justice, and now firing these profession professionals who’ve devoted their lives to the Division of Justice, it is just one aspect of the persevering with politicization.
And, sure, Congress must be investigating. The Judiciary Committee ought to start immediately its inquiry. However I am calling for an inspector basic investigation, not solely of those firings, but additionally of the dropping of a prosecution into the Utah doctor who was mid-trial on costs of conspiracy, fraud in opposition to the federal government in reference to a COVID vaccine scheme, apparently on the behest of politicians who had been deeply indignant in regards to the MAGA challenge there.
MARGARET BRENNAN: Sure.
SENATOR RICHARD BLUMENTHAL: And I imagine strongly that now Congress should examine.
MARGARET BRENNAN: Senator Graham, do you wish to shortly reply to these allegations of politicized dealing with up on the Justice Division?
SENATOR LINDSEY GRAHAM: Sure, you all missed rather a lot.
The Justice Division was used to destroy President Trump, his household, and tried to vary the election by bringing a bunch of B.S. costs in opposition to him for years. We’ll clear that mess up. As to Pam Bondi, I’ve all the arrogance on this planet she is going to do her job. And if anyone has been terminated, they’ve rights below civil service regulation to say it was wrongfully performed.
However I am virtually amused at the concept individuals are actually all of a sudden anxious about politicization of the Justice Division, whereas all people sat quiet for all these years. Actually, the Justice Division below Biden tried to vary…
MARGARET BRENNAN: Sure.
SENATOR LINDSEY GRAHAM: … the election by prosecuting Trump primarily based on a bunch of B.S.
MARGARET BRENNAN: Effectively, there are mass firings, which is why I used to be asking you about them, sir.
Senators, thanks for becoming a member of us for a bipartisan interview…
SENATOR LINDSEY GRAHAM: Thanks.
MARGARET BRENNAN: … up till that final part.
(LAUGHTER)
MARGARET BRENNAN: Admire it.
SENATOR RICHARD BLUMENTHAL: Effectively, we’re so used…
(LAUGHTER)
MARGARET BRENNAN: Face the Nation will probably be again in a minute. Stick with us.
(ANNOUNCEMENTS)
MARGARET BRENNAN: And we’re joined now by Senator Maria Cantwell, who’s the highest Democrat on the Commerce Committee, which has oversight of the Nationwide Oceanic and Atmospheric Administration, or NOAA, and the Nationwide Climate Service.
Good morning, Senator.
SENATOR MARIA CANTWELL (D-Washington): Good morning.
MARGARET BRENNAN: These businesses are being checked out rigorously proper now, as .
Simply this morning in Texas, we’re seeing the Nationwide Climate Service challenge one other flash flood warning for that exact same a part of Central Texas, Kerrville. The truth is, the bottom seek for victims needed to be halted due to this warning.
SENATOR MARIA CANTWELL: Sure.
MARGARET BRENNAN: There’s been a lot scrutiny of what went improper or what extra may have been performed. In your view, on the federal stage, is the Nationwide Climate Service doing all the things it needs to be doing?
SENATOR MARIA CANTWELL: You imply at this second? At this second…
(CROSSTALK)
MARGARET BRENNAN: Did it perform as meant?
SENATOR MARIA CANTWELL: Effectively, I feel what – what’s taking place right here – and we have to take a pause. Glad the president and first girl went. And, positively, there’s quite a lot of issues being stated.
However what the actual query is, is, what can we do to enhance the climate forecasting of this nation, to make use of science, to make use of higher belongings, to actually do a once-in-a-lifetime funding to improve the system in order that we may have given individuals in Kerrville a – extra time, extra warning? And the identical for tornadoes and hurricanes and fires.
And so I feel what we’re studying is that, on this final week, we have had 4 occasions which have all damaged large information for climate and precipitation. Meaning extra flooding. So we all know now we’re having extra excessive climate. What’s our response to that to ensure we by no means have one other Kerrville once more?
MARGARET BRENNAN: So, extra excessive climate, extra stresses on the system.
On the similar time, you’ve the Trump administration a minimum of proposing that they will do a 27 % funds reduce to NOAA. The commerce secretary, although, stated he isn’t going to the touch public forecasting.
We have seen, although, on the Democratic aspect, Chief Schumer say there needs to be an investigation about whether or not workers cuts, for instance, led to or contributed to the Texas catastrophe. Are Democrats being too fast right here responsible the politics?
SENATOR MARIA CANTWELL: You understand, I preferred your…
MARGARET BRENNAN: You are not.
SENATOR MARIA CANTWELL: I preferred your opening story in regards to the GAO report and noticed what my colleagues offered. You understand, I used to be on that decision the day the president was shot and primary – shot, and bas…
MARGARET BRENNAN: You are speaking about Butler.
SENATOR MARIA CANTWELL: In Butler.
And I mainly requested the query on the decision that day, did you guys use drones? There was like useless silence.
So I am glad now that GAO, a revered arm of our group and authorities, is producing a report. Would you like the identical form of report a yr from now? Sure. What we would like is to make it possible for we perceive what occurred. However doing blame gaming is not going to carry individuals again.
However the press has each proper to ask laborious inquiries to attempt to determine, what – what do we have to do to enhance climate forecasting? So…
MARGARET BRENNAN: Effectively, I ask that as a result of the DNC and Democratic leaders have stated issues like this. You are speaking in substantial, particular…
SENATOR MARIA CANTWELL: Sure, sure. And let…
MARGARET BRENNAN: … coverage language. That is not what’s coming from management. That is why I am asking.
SENATOR MARIA CANTWELL: Effectively, what’s vital to know is that, on this specific storm, what we had may be very heat floor circumstances within the Gulf.
We had – that meant the storm was going to maneuver slower. It meant it was going to drop extra precipitation. We as a nation should not be second to Europe or anyone in being a weather-ready nation. We needs to be the neatest authorities on this planet, utilizing know-how, analyzing the information and placing a forecast system into place that offers folks that form of system.
So, only in the near past, in – within the Midwest, that work by NOAA and the climate forecasting system and the labs helped give details about the way to get out of the best way of a twister two hours prematurely, not quarter-hour or 13 minutes, however two hours.
And I will ship a letter to the president making 5 suggestions, and a few of them are very bipartisan suggestions, issues that Senator Cruz or Wicker or Moran help, that mainly make this once-in-a-lifetime funding, so we have now one of the best data, one of the best evaluation, one of the best individuals to interpret that on the bottom for the native responders.
And let’s assist People get out of the best way of a storm.
MARGARET BRENNAN: So, on that time, in your suggestions, we’re nonetheless seeing a proposed funds reduce, we’re nonetheless seeing workers cuts, and the administration is speaking about privatizing components of NOAA.
SENATOR MARIA CANTWELL: Sure.
MARGARET BRENNAN: Are you able to do all of that after which accomplish the end result you are asking for?
SENATOR MARIA CANTWELL: Effectively, I feel that is what we’ll attempt to attract consideration to.
Senator Cruz and I each help upgrading our Doppler radar system. That’s having a system that offers you extra details about what the storm is prone to do. It is one of many explanation why Europe is slightly forward of us and also you hear about their forecasting system is as a result of they do extra analytics round information that give them increased predictability.
I feel we’re in the identical place. Let’s get one of the best system within the nation. Senator Wicker and I help these ocean buoys. These buoys let you know the temperature of the ocean. Why was that so vital on this case? Since you wanted to know. That temperature tells you ways – how a lot that storm may transfer or maintain in a sample and the way a lot precipitation it’d transfer ahead and dump in a group.
So…
MARGARET BRENNAN: And also you imagine this has to occur on the federal stage? It isn’t a state-led response in that approach – or forecasting, relatively?
SENATOR MARIA CANTWELL: Effectively, that is – it is a nationwide accountability.
And I consider, , if you need your snow shoveled, sure, you need the mayor to point out up.
(LAUGHTER)
SENATOR MARIA CANTWELL: However if you need correct climate data, it isn’t group to group. It is a nationwide system. And we share that with the native individuals and assist them greatest reply.
And, right this moment, my state has a crimson flag warning out. It is proper on the – in “The Seattle Instances,” telling the entire state, very dangerous circumstances right this moment, very popular temperatures, very excessive winds. Meaning a hearth could possibly be explosive.
MARGARET BRENNAN: Sure, so quite a lot of warning forward of time.
Let’s discuss extra about this on the opposite aspect of this break.
SENATOR MARIA CANTWELL: Sure.
MARGARET BRENNAN: Stick with us, if you’ll.
We’ll be proper again.
(ANNOUNCEMENTS)
MARGARET BRENNAN: If you happen to’re searching for extra Face the Nation, together with prolonged interviews and particular content material, you possibly can go to our YouTube web page.
(ANNOUNCEMENTS)
MARGARET BRENNAN: Welcome again to FACE THE NATION.
We returned to our dialog with Senator Maria Cantwell.
Simply to choose up the place we left off in speaking about the way to a minimum of warn individuals additional prematurely of potential climate associated disasters, , there may be nonetheless no Senate confirmed head of NOAA. You probably did undergo with a listening to on the committee very lately. And the nominee, Dr. Jacobs, informed you that the principle mission will nonetheless be preserved below this administration. Do you’re feeling snug within the potential management of Dr. Jacobs? Will you vote to verify?
SENATOR MARIA CANTWELL (D-WA): I have never determined but. I – I’ve to see, for the document. He did say some very constructive issues that he wished a NOAA natural (ph) act. He needs the climate act that Senator Cruz and I’ve proposed. He stated he wished another sources there.
I’ve acquired to drill down on precisely what he issues goes to occur on the science mission and the way we’ll protect that as a result of the nation is now spending billions of {dollars} on storms. The truth is, Susan Collins and I had a report from GAO just a few – within the final yr that confirmed how a lot we had been spending on the impacts of – of local weather and excessive climate. So, the purpose is, it is a minuscule funding to maintain a few of these science analysis features at NOAA to assist them higher put together individuals for hurricanes, for tornadoes and floods. It is a minuscule sum of money.
And so we wish to be smarter about it. And the extra you possibly can transfer individuals and sources out of the best way of a storm, the extra you possibly can predict what may occur, the higher ready we’ll be. And that is going to assist us save lives and positively save {dollars}.
So, I wish to – I wish to get from him precisely how he thinks that that is – goes to work. However he did say some constructive issues in regards to the construction. Individuals do not perceive, however NOAA is known as a science arm of our authorities to make all of this for the nation and the Climate Service. So, they actually need to fund the hurricane hunters. These are the planes that fly right into a hurricane.
MARGARET BRENNAN: Proper.
SENATOR MARIA CANTWELL: And we have helped help that previously in a bipartisan approach. It mainly funds these – the analysis that actually, I feel, in all probability the place Europe is correct now could be they simply do higher evaluation of the information.
MARGARET BRENNAN: Sure.
SENATOR MARIA CANTWELL: They are not doing something terribly higher than us. They’re in all probability simply spending extra time.
MARGARET BRENNAN: OK.
SENATOR MARIA CANTWELL: And if that could be a few million {dollars} and supercomputing time, we must always do it.
MARGARET BRENNAN: Talking of Europe and the commerce dialog the president has renewed simply on Saturday, saying he will put tariffs on the European Union and up them on – on Mexico as nicely by August the first.
You understand, there’s been quite a lot of concern about what it could do to the economic system. The inventory market appears to be disregarding the influence.
Out in your state, Boeing, an enormous contributor to the U.S. economic system, is headquartered there. The truth is, they’d a 27 % improve of airplane deliveries in June, eight to China as a result of there’s been this form of cooling off with them.
If that is on the again burner, are you much less involved in regards to the commerce warfare?
SENATOR MARIA CANTWELL: Oh, no, no. No. No, I am – I am very involved we’re in a countless summer season of commerce warfare tariffs and chaos. I am very involved about this. It’s impacting our companies. We’re some of the commerce – dependent states within the nation. But it surely’s impacting our ports. I imply, actually, commerce with our ports is, , a minimum of 20 % down over final yr, within the month of Might, from the earlier yr.
The Affiliation of Washington enterprise is releasing a examine that they’ve previewed with us. And of their membership, 75 % of them have stated they already are impacted by the tariffs. About –
MARGARET BRENNAN: These are like medium-sized companies or –
SENATOR MARIA CANTWELL: Sure, there are in all probability just a few would outline as – as massive, however they’re – they’re saying that – 30 % of them are saying that they mainly have already raised prices in – not directly. And 15 % of them stated, we have both laid off individuals or are planning to put of individuals sooner or later.
So, for us, we’re seeing the financial impacts of this and our competitiveness, though individuals have deliberate with storing quite a lot of materials, , getting provides in, attempting to arrange for this, this up and down, , is admittedly having an impact on prices.
MARGARET BRENNAN: So, for – it sounds such as you’re saying at this level, we have not but seen absolutely or felt absolutely the financial influence. So, for the market to be betting that the president is both going to again down or that this is not as hurtful as some predicted, you are saying, simply wait and see?
SENATOR MARIA CANTWELL: Oh, I feel the market has been very clear. When he says he is going ahead with tariffs, they do not prefer it, and also you see a drop.
And – and – and – and when he takes a pause that – however that is not the problem. The difficulty is small enterprise. We now have – , 75 % of jobs are created by small companies. And people small companies do not have the identical flexibility {that a} massive firm does –
MARGARET BRENNAN: Proper.
SENATOR MARIA CANTWELL: To maneuver out of the best way of a provide chain that’s now being disrupted or, , there was a Japanese firm, a giant provider to U.S. auto manufacturing, that went out of enterprise. So, we now have aluminum costs that impacts all the things from our transportation infrastructure funding, to, , I – I heard on Amazon that tea kettles went up, , like 40 or 50 % in price.
So, it is affecting all types of merchandise.
MARGARET BRENNAN: Sure.
SENATOR MARIA CANTWELL: And, , whereas we might not see all of that at this second, I assure you, as the subsequent quarter outcomes are available, I am positive we are going to see some results of those tariffs.
MARGARET BRENNAN: OK.
SENATOR MARIA CANTWELL: So, let’s get again to utilizing our alliances to create
MARGARET BRENNAN: Proper.
SENATOR MARIA CANTWELL: You understand, why aren’t we working with Europe proper now to counter, , Russia –
MARGARET BRENNAN: Proper.
SENATOR MARIA CANTWELL: As an alternative of being in an argument with them on a few of these points that could possibly be resolved in a distinct kind.
MARGARET BRENNAN: Effectively, we are going to see if an settlement is reached earlier than August the first.
Senator, thanks very a lot for becoming a member of g us right this moment.
SENATOR MARIA CANTWELL: Thanks.
MARGARET BRENNAN: We’ll be proper again with extra FACE THE NATION.
(ANNOUNCEMENTS)
MARGARET BRENNAN: We go now to the chair of the Homeland Safety Committee, Senator Rand Paul, who joins us from Bowling Inexperienced, Kentucky.
Good morning to your, Senator.
SENATOR RAND PAUL (R-KY): Thanks. Thanks for having me.
MARGARET BRENNAN: At present is that one yr mark since then candidate Trump was shot at in Butler, Pennsylvania. You could have launched an accountability report. We have had a take a look at it. And it particulars that belongings had been requested by the Secret Service, together with requests revamped the cellphone, they usually had been denied. You additionally say that the previous Secret Service director made false claims below oath when Kimberly Cheatle stated there have been no denials. Was she misled or are you accusing her of mendacity?
SENATOR RAND PAUL: She didn’t inform the reality. She stated that there have been no belongings that had been requested prematurely. We discovered a minimum of 4 events, really possibly 5 events the place requests had been made.
The first request that was made by each Trump’s Secret Service element, in addition to his marketing campaign, was for counter snipers. Counter snipers had been denied till Butler. So, thank God, on that day, in Butler County, Pennsylvania, that was the primary time he was allowed counter snipers. If he had not had counter snipers, that murderer would have popped up once more – he did pop up once more to proceed firing, and that is when he was taken out. However thank God we had the counter snipers there. However why had been they denied for months and months. After they lastly did ask for them, they mysteriously, magically appeared. They discovered them the place they wanted. They simply weren’t attempting laborious sufficient.
So, it was a cascade of errors. It was only one error after one other. Once we discuss to the individuals in command of safety, all people pointed a finger at another person. We stated, who’s chargeable for the roof? The roof the place the murderer lay with a direct sight line. No one wished accountability. All people stated it was anyone else. There was loads of time to take him off the stage. The suspicious particular person with a spread finder who as a result of the shooter, many occasions he was noticed by police with suspicion. That ought to have been sufficient to take the president off the stage.
MARGARET BRENNAN: Sure.
SENATOR RAND PAUL: Even with him on the roof, there was a couple of three- minute interval when he may have been taken on the stage, and but nobody was fired. A few of these individuals could possibly be in command of safety for one more presidential candidate. And actually that is a hazard that some one – somebody of the folks that had been in cost at Butler could possibly be in cost once more. That is not proper.
MARGARET BRENNAN: Effectively – nicely, the president of america has stated he’s happy with the solutions he is obtained in regard to what went improper. However again on the purpose about not telling the reality to Congress. The report discovered that there have been 10 events the place sources had been requested or denied or not crammed. And, in reality, when it got here to Butler, the countersurveillance drone request was revamped the cellphone.
So, while you say somebody isn’t telling the reality, is it that there was no document of request and denials? Was this knowingly deceptive Congress? Or was this like a tradition of cover-up throughout the company?
SENATOR RAND PAUL: I feel it was a cultural cover-up for the company. They didn’t wish to assess blame. They didn’t wish to look internally. They usually wished to low cost any of their actions which may have led to this. This was a canopy your ass form of second. And I do imagine that they did know. There is no approach that the director of Secret Service, that she didn’t know that these requests had been made.
And so, sure, it was an enormous failure. And when you discuss to the present head of the Secret Service, who’s Trump’s lead element, and Trump has a substantial amount of confidence in, he’ll admit that these failures existed.
However even the disciplinary motion that they lastly took, they solely took as a result of I subpoenaed. I wished to know, who’s disciplined. We weren’t going to launch the names. However I wished to know, who was disciplined and what the self-discipline was. They refused for a yr to inform me that. They informed me {that a} week in the past. You noticed the information experiences.
However a few of the individuals had been simply disciplined two weeks in the past. So, they weren’t going to self-discipline anyone till I subpoenaed and requested them what they’d performed. However, ultimately, nobody was fired.
MARGARET BRENNAN: Sure.
SENATOR RAND PAUL: And the supervisor who heard in regards to the particular person on the roof, who didn’t inform the element instantly to take the president off the stage, there was a a number of minute delay there, he stayed in his job. He did retire lately, however stayed in his job.
So, no, I feel even the investigation by the Secret Service was insufficient. However that is why we have to have congressional oversight.
MARGARET BRENNAN: Are you going to request that every one – all requests for belongings be made in writing and never over the cellphone so individuals can deny that they had been ever requested for assist?
SENATOR RAND PAUL: Sure, I feel they had been made in writing as nicely. And I feel some had been made by cellphone. However I feel those that had been made by cellphone had been following up on issues they made in writing.
MARGARET BRENNAN: Bought it.
SENATOR RAND PAUL: Any individual was simply begging for – for belongings.
And give it some thought. President Trump has had extraordinary rallies. It doesn’t matter what political perspective you come from, he has extraordinary rallies which have abnormal danger. Significantly better – a lot better danger than having, , 200 individuals in an auditorium the place all people’s totally screened and the situation is safe. These items actually take quite a lot of element. However once we ask the Secret Service, who was in command of the roof? How may you stroll by at 3:00 within the afternoon and see the roof? No one walked by. No one was in cost. All people stated, oh, she was in command of the roof, or he was in command of the roof. Nobody would really admit to being in command of safety for Butler.
MARGARET BRENNAN: So, they’re – the – the large, lovely invoice that the president requested for offers $1.2 billion to the Secret Service. Does cash repair that? And what do you say to the member of the family of – of the gentleman killed that day? Are we ever going to know the motive of the shooter?
SENATOR RAND PAUL: You understand, I feel we aren’t going to know the motive. And I take that at face worth. I do know quite a lot of occasions, once we do not get one thing and we suspect one thing, we predict authorities’s mendacity to us.
And, look, I’ve my doubts about authorities on many ranges. However I feel, on this stage, they’ve tried their greatest. And I do not suppose there is a secret reply that they are not revealing to us. I feel they simply do not know.
What we do know is the failures in safety and that Corey Comperatore may have presumably been saved by having higher safety that day. And this boy was seen 4 hours earlier than the taking pictures. He was seen once more 45 minutes earlier than. Three minutes earlier than the group, the group is chanting, “man on a roof, man on a roof.” Forty-five seconds to go as he is assembling his gun. Forty-five seconds is a very long time.
MARGARET BRENNAN: Sure.
SENATOR RAND PAUL: No one informed them to take the president off the stage. Inexcusable, horrible safety. However whoever is in cost ought to have been fired and actually ought to by no means be in command of this sort of – or have this sort of accountability once more.
MARGARET BRENNAN: On the query of forewarning, however on a distinct subject, this Friday is the deadline for each the Senate and Home to vote on a plan to claw again about $9 billion for overseas support, together with additionally help for NPR and PBS. A few of your fellow Republicans, like Rounds, like Murkowski and Collins have stated they’re anxious about cuts to native radio and public broadcasters of their areas. We seemed, and in your state of Kentucky, public broadcasters present vital emergency warnings for the federal government. If there is a storm, for instance.
Are you involved that these form of cuts are going to hazard individuals?
SENATOR RAND PAUL: You understand, I acquired my begin on public tv, KET, in Kentucky, being a commentator for my tax payer group that I began. So, , I’m not an enemy of public TV. However on the similar time, we have now a $2 trillion deficit. And what we’ll be offered with is a $9 billion reduce in spending. And, can we and may we a minimum of begin chopping $9 billion, sure. If I had my druthers and I may plan it and I may current the package deal, I like the thought of across- the-board cuts of a smaller share. So, as an alternative of taking one hundred pc of public TV, what you do is you’re taking 6 % of all the things.
However the one approach that works is you actually need to take 6 % of each greenback, after which it’s important to work out the way to make it work so it isn’t absorbed by the poor or the needy in our nation. And you might try this. With a penny plan, you possibly can stability your funds inside six – inside 5 years. But it surely takes an actual 6 % reduce of all the things.
MARGARET BRENNAN: Sure.
SENATOR RAND PAUL: However I feel individuals are extra keen to just accept a haircut on issues they like if all people is accepting the identical form of stage of reduce.
MARGARET BRENNAN: So, are you saying there that you’re nonetheless going to vote for this? Are there 51 Republicans who’re going to vote to chop all this funding and pull it again?
SENATOR RAND PAUL: I believe it will be very shut. I do not know if will probably be modified prematurely. However I can not actually actually look People within the face and say that I will be doing one thing in regards to the deficit if I am unable to reduce 9 billion. Although there are individuals who make arguments for it, and I could make an argument for a distinct technique to reduce it, we’ll be offered with a $9 billion reduce and a $2.2 trillion deficit. So, we have now to chop spending. We completely have to chop spending.
MARGARET BRENNAN: And a – and a document increase to the debt ceiling that simply taking place within the invoice you didn’t vote for, however Republicans did.
Senator Paul, thanks to your time right this moment.
We’ll be proper again.
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MARGARET BRENNAN: We go now to Congressman French Hill. He’s the chair of the Home Monetary Companies Committee.
Welcome again to the published.
Your ears will need to have been ringing with the 2 senators who began this system as a result of they had been speaking about grabbing a few of these frozen Russian belongings. You moved a invoice and gave the president authority to really seize them over the past administration below the Repo Act. The U.S. has by no means earlier than seized central financial institution belongings from one other nation.
Are you aware of the Treasury Division goes to take action now?
REPRESENTATIVE FRENCH HILL (R-AR): Effectively, Margaret, it is good to be with you.
Sure, I definitely labored very laborious with former International Affairs Chairman Mike McCaul and others to place that in our 2024 nationwide safety package deal throughout the Biden administration as a result of we wished one other arrow within the quiver for the president to not simply seize these belongings, however to transform them to the advantage of Ukraine, however we may by no means get consensus between america and Europe for doing that, regardless of a unanimous vote of the council – – the parliamentary meeting of the council of Europe supporting it.
So, I continued to induce President Biden to do this. We acquired the curiosity of these frozen belongings to profit Ukraine. However I feel it is time for the president to transform these seized belongings to a belief account for the advantage of Ukraine. I am glad to listen to each Senators Blumenthal and Graham help that concept. It is time to do it. And I’ve inspired Secretary Bessent that this needs to be a precedence for President Trump.
MARGARET BRENNAN: On one other subject, as a result of you’ve some oversight within the monetary area, I wish to ask you about feedback made in regard to Fed Chair Jerome Powell.
The president says the economic system is in fine condition, however he nonetheless complains in regards to the – the top of the central financial institution. Says he is doing a horrible job as a result of he isn’t reducing rates of interest.
On one other community right this moment, the president’s prime financial advisor stated the White Home is trying into whether or not the president has the authority to fireside Chair Powell. Do you imagine the president has the ability and authority to fireside the Fed president?
REPRESENTATIVE FRENCH HILL: You understand, Margaret, I do not. And I imagine President Trump has spoken about this a number of occasions over the previous two years, together with lately. Mr. Powell’s governorship, his chairmanship, is up subsequent spring. The president has vacancies developing on the Fed board, the place he may title one other governor.
However, look, simply because Congress created the Fed and the – we imagine that it needs to be impartial within the setting of financial coverage, it doesn’t suggest that it is immune from criticism. And each president since World Conflict II has had alternative phrases for the Fed chair once they’ve not been in sync with the course of the president.
And so, look, Congress continues to do oversight. I arrange a particular process power to supervise the Fed’s decision-making because the 2008 monetary disaster. We now have the investigation assessment and oversight underway. And we’ll proceed it.
MARGARET BRENNAN: I feel you’d acknowledge that the majority presidents might need had these alternative phrases behind closed doorways, not on social media posts, regularly, Congressman.
However on crypto, I wish to as you, crypto has been the wild west, proper, in some ways as a result of they do not have the identical form of regulation within the digital asset area that there does exist for banks and monetary companies. You have acquired just a few measures developing this week. How do you ensure that, as you place these rules in place that form of assist crypto change into extra mainstream, that it would not additionally profit a few of these on the black market, for instance, who use this to evade oversight?
REPRESENTATIVE FRENCH HILL: Precisely. Effectively, within the work within the Senate, led by Invoice Haggerty and Tim Scott and Cynthia Lummis on the Genius Act, to create a dollar-backed steady coin, we have closely influenced that laws over the 2 years of earlier work by the Home. In our Readability Act, which units up the foundations of the highway for what’s a commodity, what’s a safety, the way to use digital belongings, the way to retailer them, the way to (INAUDIBLE) them, these are the foundations that can defend shoppers. We’ll restrict entry to our market and our buyers from entities exterior america attempting to affect the crypto market. We now have none of that right this moment.
What we have had is a mismatch of guidelines by enforcement within the Biden administration. And I imagine the payments we’ll have on the Home flooring this week will defend buyers, shoppers and make American, as President Trump needs, a frontrunner in monetary know-how and crypto and digital belongings innovation.
MARGARET BRENNAN: However, , sir, that the priority is that that is the patina of safety of shoppers with out precise muscle behind it. It was attention-grabbing to see, and lots of People who maintain mortgages might need seen, that Fannie Mae and Freddie Mac, who purchase and promote mortgages, that the top of the company, the Federal Housing Company, Invoice Pulte, informed them, they will have to arrange a proposal to assessment crypto as an asset on mortgage functions. Given the large taxpayer stake in – in – in Fannie and Freddie, are you snug with individuals utilizing crypto, one thing that is not actually, , tangible in some ways to pay for a down fee on a home?
REPRESENTATIVE FRENCH HILL: Effectively, take a look at bitcoin, for instance. One can now purchase bitcoin. It’s a commodity. It has been decided that it is a commodity by the CFTC and the SEC. One can maintain it of their brokerage account by an trade traded merchandise, an ETF, ETP. It is now an asset for hundreds of thousands of People. And it definitely could possibly be handled like a inventory or a bond or money as a contribution to somebody’s internet value to qualify for a mortgage.
An if we cross Readability this week, which I count on we are going to on a bipartisan foundation, and we craft a greenback again steady coin, like Genius, supplied by Senator Haggerty, we’ll have the foundations of the highway. It will not be a patina of shopper enforcement, will probably be actual shopper enforcement, investor protections, each by the CFTC, the SEC and the financial institution – and the financial institution regulators.
MARGARET BRENNAN: And a down fee for a home.
REPRESENTATIVE FRENCH HILL: Effectively, look, once more, bitcoin is an asset. You may decide when you suppose it will go up in worth or down in worth, similar to shares and bonds, or different investments that individuals have on their monetary assertion to safe their monetary assertion for a internet – for internet value functions, or to liquidate –
MARGARET BRENNAN: Sure.
REPRESENTATIVE FRENCH HILL: Within the – for a – a down fee.
MARGARET BRENNAN: OK.
REPRESENTATIVE FRENCH HILL: So, I feel it is a monetary asset. Our invoice will make it a safer world –
MARGARET BRENNAN: All proper.
REPRESENTATIVE FRENCH HILL: And one which’s higher for, I feel, all households and companies.
MARGARET BRENNAN: I am out of time so I will have to go away it there.
Thanks, Congressman.
We’ll be again.
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