A Capital Region Congressman is reiterating his frustration with President Donald Trump’s trade policies and budget priorities.
Speaking at his office in Albany Friday, Representative Paul Tonko, a Democrat from the 20th District, says the second-term Republican’s tariff plans are endangering the livelihoods of Capital Region residents. He says Trump's inconsistency with tariffs has sent the stock market — and people’s retirement savings — on a rollercoaster ride.
“Depending on when and who you ask, these tariffs are permanent, or they are the beginning of a negotiation. These tariffs are going to help us reduce our deficit, or they're going to help us finance tax cuts for billionaires. Even President Trump himself admitted on Wednesday of this past week that this wasn't The Art of the Deal,” Tonko said.
Tonko says the 145 percent tariffs now in effect on China are the highest in the industrialized world and at their highest since 1903. Those rates more than 120 years ago, he adds, led to the Great Depression a quarter-century later.
House Republicans this week passed a budget framework as the majority party seeks to cut at least $1.5 trillion in government spending over the next decade, making way for an extension of tax cuts approved during President Trump's first term.
Tonko says the cuts sought by the GOP are cruel.
“Republicans are pushing at least $880 billion worth in cuts to Medicaid, ripping away coverage and raising health care costs for millions. More than 40 million Americans rely on food assistance to help feed their families, but this budget slashes at least $230 billion from those programs,” Tonko said.
Tonko says cuts would disproportionately harm people in his district who receive healthcare through the Affordable Care Act.
“The 8000 people who receive coverage under the Affordable Care Act in NY-20 would see their average premium go up by some $2,560 per year, a more than a 50 percent price hike. The extreme Republican budget plans also threaten the 93,000 people in NY-20 who count on SNAP to put food on their table,” Tonko said.
The House budget framework is meeting some resistance in the Senate. Republican Majority Leader John Thune this week acknowledged some GOP members are concerned over deep spending cuts. Senate Democrats call the plan a non-starter and are warning of a potential government shutdown.
