Speaker Johnson says he'll work with Trump on $5k checks, but won’t guarantee them: Full interview

[0:00] And joining me now is the Republican Speaker of the House, Congressman Mike Johnson of Louisiana. [0:06] Speaker Johnson, welcome back to Meet the Press. [0:11] Hey, Kristen. Great to be with you as always. [0:12] It's great to have you this Sunday after the Republican convention this past week. [0:18] And I want to start right there at the convention. [0:22] President Trump made a promise that he would send $5,000 to every American if Republicans hold on to the House and the Senate. [0:32] Is that a plan you support, Mr. Speaker? [0:35] Well, look, what the president was doing is reminding the American people of our extraordinary record of success [0:42] and the fact that they have more money in their pockets under Republican control of Congress and the White House. [0:47] I mean, look at it. Under this regime and under this presidency and our Republican majorities, [0:54] we've given the largest tax cut in U.S. history. Wages are going up. [0:58] In my state of Louisiana, I'm there this morning in my home state, [1:01] and the average Louisianian has over $2,900 more in their pocket they did not have to send in in their taxes. [1:07] And the average take-home pay has increased nearly $8,000 for every taxpayer. [1:12] Ninety-seven percent of filers got a tax refund this year, and that's all because of our policy. [1:19] So elections have consequences. [1:21] What the president is brainstorming about is ways to further incentivize and grow the economy [1:27] and make sure that Americans keep more of their hard-earned dollars. [1:29] So that's an idea, a new one, an idea that we'll process through Congress and talk through and debate and discuss. [1:35] But we're going to continue on this pace of an incredible record of achievement, also in addition to the economy, of course. [1:43] I mean, we talked about at the convention highlighting all the great wins. [1:46] And listen, this is real statistics. [1:49] You know that we have the lowest violent crime rate in 126 years. [1:52] We have the lowest level of illegal border crossings in over a century. [1:56] We have the biggest decline in drug costs, prescription drugs, in over 60 years. [2:01] And, of course, we gave the largest middle and working families tax cut in U.S. history, more wages, more jobs, more onshoring of American manufacturing. [2:10] And that was a lot of fun to tout at the convention and draw people's attention to it because we have a contrast election coming up here on November 3rd. [2:17] Mr. Speaker, I hear you saying wages are going up. [2:20] It's worth noting wages went up 3.1 percent, inflation 3.4 percent. [2:25] So not keeping pace with inflation. [2:28] But to my question, do you support sending $5,000 to every American citizen if Republicans hold on to the House and Senate? [2:37] Like every idea that the president comes up with, he's a great idea generator. [2:41] We're going to process that in Congress and figure it all out. [2:43] But I'll tell you that the trend will continue. [2:46] And what the president is trying to emphasize there is that the American people want to continue on the pace we're on, [2:51] which is more economic growth, expanding the pathway to poverty for more people, providing more jobs and higher wages. [2:58] We need to stay on track and continue with these big ideas. [3:01] He's the big ideas president. [3:03] We're going to try to implement everything we can. [3:05] Mr. Speaker, I want to read for you something that Republican Senator Susan Collins of Maine said about these $5,000 checks. [3:13] She wrote, quote, tax and spending decisions should be made based on the needs of the American people and the state of the economy. [3:21] They should not appear to be tied to election results. [3:25] The president said that these checks are contingent on election results. [3:30] Is this an attempt to buy votes? [3:33] No, of course not. [3:37] Remember, the Democrats who are making that claim are the same ones who gave out COVID checks and all sorts of stimulus checks. [3:44] Well, she's a Republican. [3:45] It's not an unprecedented thing. [3:45] Susan Collins is a Republican. [3:47] Yeah, I understand that. [3:49] I understand. [3:49] Sure, sure. [3:50] But that's right. [3:52] And so is the president. [3:53] He's the lead Republican in the country. [3:55] And what he is articulating there is the obvious truth that you have more money in your pockets with Republicans in control than with Democrats. [4:03] And at the same time, we are cutting government spending and doing it responsibly. [4:07] Remember, in the big, beautiful bill, the working families tax cut, we also cut $1.6 trillion in wasteful government spending. [4:14] So it's about prioritizing spending and making sure that hardworking families can keep more of what they earn. [4:20] And we're going to look at every ingenious idea on how to make that happen, and it'll all be part of the process. [4:26] Mr. Speaker, since he took office, though, inflation is up. [4:29] Gas prices are up. [4:30] Estimates show tariffs have cost American households nearly $2,000 so far. [4:36] I know you're saying Americans have more money in their pockets. [4:38] But as you well know, many Americans say they just don't feel that. [4:42] Is there a disconnect there in terms of what you're saying, what Americans are feeling? [4:48] No. [4:48] I mean, we have to consider all the facts, of course. [4:51] Remember that when President Trump took over, the economy was in shambles. [4:55] I mean, we reached a 40-year high of inflation under Biden and Harris, 9.1%. [5:00] At this stage in President Biden's presidency, it was about 8.3% inflation. [5:05] Right now, it's 3.4% under President Trump. [5:09] Now, that's too high, of course. [5:10] But we are the team that has the policies in place to continue to bring that down. [5:14] The inflation is tied right now, as we all know, to this trade of Hormuz and the fact that the commerce there is not reopened and stabilized as much as it should be. [5:22] But we all believe, and the president's working around the clock, that that will come to a resolution here very soon. [5:27] And I think it's going to be a combination of our allied nations, our friends in NATO and other Arab states in the region over there, in that Gulf region, [5:35] who will come together to help make sure that the trade of Hormuz remains open so that that stabilizes gas and fuel prices and brings down costs overall. [5:44] I think that's the next phase. [5:45] We're going to get to Iran. [5:47] It is worth noting inflation was at 3.0% when President Biden left office. [5:52] It's now at 3.4%. [5:54] But let's talk about the price tag, because there's been a lot of discussion about that. [5:58] The checks would cost the government an estimated $1.2 trillion. [6:02] I want to play for you something that Florida Governor Ron DeSantis said about how this plan would impact the nation's already $40 trillion debt. [6:11] Take a look. [6:12] What I don't think you want to do is borrow another $1.5 trillion and then just try to flood that into the economy, because that will lead to more inflation. [6:23] That will lead to more debt and more inflation. [6:27] In the past, you have called the national debt the largest threat facing the country. [6:32] Why would you want to add to the debt, Mr. Speaker? [6:37] I don't want to add to that, Kristen. [6:39] And I guess we're going to spend the whole segment talking about this one issue when there's so many other things. [6:43] No, we're going to get to other issues. [6:45] What we've actually done and not ideas on the table. [6:47] Okay, I'd love to, but let me just say, no, we don't want to add to the debt. [6:51] But if you look at what Commerce Secretary Lutnik said in the last 48 hours or so and what the president himself has said, this is not to add to anything. [6:59] It's not going to take taxpayer funds. [7:01] We're not going to get further in debt if this idea was implemented. [7:04] This would be, in the president's mind, in the way he analogized it, like a dividend check for shareholders. [7:10] That's how he thinks of it. [7:11] If a corporation does well, everybody gets the benefit of that. [7:16] And he thinks of it this way. [7:17] They're talking about the new tariff revenue and other revenues coming into the country. [7:23] He said at the convention, trillions of dollars have come into the country since he took office because of the new trade deals, the things that are more advantageous for America. [7:31] And he wants to make sure the American people feel the good effect of that. [7:35] So, again, we've got to process it. [7:36] Like, every idea will work that through Congress. [7:39] But you and I are wasting a lot of time this morning when there's other important things to talk about. [7:43] Well, you still haven't answered the question. [7:45] Let me just button it up. [7:46] We're going to move on to a number of other topics. [7:47] But do you commit that if Republicans hold on to the House and Senate that Americans will get those $5,000 checks? [7:55] I commit that Congress will work through it and find consensus on that like I have to do everything else. [8:00] We have a small margin in this Congress. [8:01] We've had the smallest, smallest in history, one or two vote margin on every given day. [8:05] So it takes some time. [8:06] I never go out and get big commitments on the front end because I've got to work through it. [8:10] And that's what we do every single day. [8:11] President Trump promised that to voters, though. [8:13] You're not willing to double down on that promise? [8:17] I'll work with the president hand in hand, as I do all the time. [8:20] We'll deliver for the American people. [8:21] That's the promise. [8:22] All right. [8:22] Let's talk about Iran. [8:24] President Trump said this week that the war will probably last beyond the midterms after initially he said, [8:29] Mr. Speaker, it would only last for a matter of weeks. [8:32] Congress controls the power of the purse. [8:35] Does the White House have a blank check to continue this war, Mr. Speaker? [8:41] No, and the war is not continuing. [8:43] What we're trying to do now is resolve what has already been a big success. [8:47] Operation Epic Fury, of course, achieved the objectives. [8:51] We had to make sure that the largest state sponsor of terrorism did not have a nuclear weapon. [8:55] That has been an objective and commitment of every administration for almost a half century. [8:59] And everybody around the world, and the world is safer, and Americans are safer because we took care of that problem. [9:05] Now we've got to resolve it, and the president is spending lots of time and energy every single day making sure we do that. [9:11] But it has to be in a way that's advantageous for the American people and keeps the American people safe. [9:16] And so we've got to make sure they can't restart a nuclear program. [9:19] But at the same time, we've got to make sure that gas prices are down at planet Earth. [9:24] And so that's what the president works on every single day. [9:26] The Iranians are not trustworthy negotiating partners, of course. [9:29] They lie every day. [9:31] They sit at the table, tell you one thing, do the opposite. [9:33] For some of them, it's part of their religion. [9:35] So this is a difficult, complex situation. [9:37] It will involve, I think, other, as I said, other allies and partner nations around the world to ensure that we keep the region safe and keep all of our own countries and our people safe. [9:47] And that's the objective. [9:48] Mr. Speaker, there are still 50,000 troops deployed to the region. [9:52] You still have a naval blockade in place. [9:55] President Trump continues to refer to the conflict as a war. [9:59] Let me ask you, are you confident this war will be over by the next presidential election, Mr. Speaker? [10:08] Oh, of course. [10:09] We certainly plan for that to be true. [10:11] And I would like it to be done, of course, today, certainly before the midterm election. [10:15] But that's just about a little more than 50 days away right now. [10:19] And so we're going to be realistic about this. [10:21] It's a complex situation, as we all know. [10:23] But it's one that everyone, I mean, it's quite literally an all-hands-on-deck approach to resolving that for the American people. [10:30] And by the way, the president's right, what he said at the convention, has said consistently all the time. [10:34] And as soon as that is resolved, the Strait of Hormuz, the commerce there, to get, you know, oil, you know, transferred and transported through that international waterway, that will bring down the cost. [10:46] Because it's not just fuel and everything related to that. [10:49] It's, for example, grocery prices. [10:51] It's because your grocery prices are higher because of the transport costs. [10:56] So we've got to do that. [10:57] We have done every – we put every economic condition in place in this Congress and in this administration to bring down costs and put more money in Americans' pockets. [11:07] And so this is the last little piece of that. [11:09] We believe it will be resolved soon. [11:11] The president says right after the election, and I certainly pray and hope that that's right. [11:15] All right. [11:15] Well, I have to talk to you about AI. [11:16] I will be speaking with the AI researcher who warned this week that AI could kill us all, this dire warning. [11:23] And then, as you know, the head of Anthropic, Dario Amodei, came forward and said the industry does, in fact, need a global slowdown. [11:32] That was echoed by Elon Musk and others. [11:35] There are calls for you from Democrats, Mr. Speaker, to cancel recess, to keep Congress in session, to pass legislation that would better regulate AI. [11:44] Will Congress take action to regulate AI before the November elections? [11:52] This is a very important issue, and it's not one that we can rush into. [11:56] And we have been very deliberate about this. [11:58] I mean, right after I became speaker almost three years ago, we put together a task force, bipartisan, a large group of members of the House. [12:05] Both sides of the aisle, it worked deliberately to look into and research and debate and deliberate over what's the best way to do this. [12:12] Here's the challenge. We have to put some guardrails, some safety measures in place to ensure that AI doesn't run away, you know, that we don't have an out-of-control AGI, artificial general intelligence. [12:25] But at the same time, we've got to make sure that we don't lose our edge in the global competition on this with China, because that would be a national security threat. [12:35] And so we've got to balance that appropriately. [12:37] Now, look, I've talked to all the providers of AI. [12:40] I mean, Amadei and Altman and Elon and everyone, all of them. [12:44] And they all say that we need some guardrails, but they all have very different ideas on what that looks like. [12:49] So they don't themselves even have the answer as of today. [12:53] So we can't rush in and have Congress do something that would be detrimental to national security. [12:58] We're going to balance this. [12:59] We're going to have steady hands at the wheel, as we do on every issue. [13:02] And I believe we need to summon the platform providers all to one big meeting and work this out together in the same room. [13:08] They're also competitors with one another, right? [13:10] So they also have a corporate responsibility to be safe in the product that they are producing. [13:15] And all of this has to come together in a way that can't be haphazard or rushed. [13:20] Mr. Speaker, very quickly, before I let you go, are you willing to cancel recess to address it? [13:24] And do you think unregulated AI is a threat to humanity? [13:30] I think I just answered that question. [13:32] I think we've got to have meaningful regulation that does not smother American innovation. [13:38] Now, how to solve that equation, no one knows yet. [13:41] We're not going to rush in and pass a piece of legislation that would do harm to the country and put China as an edge. [13:48] And so we've got to do this carefully. [13:49] Of course, we'd vote on that tomorrow if we had the solution. [13:52] And I'll call everybody into session any day. [13:55] But we have to make sure we're doing it the right way. [13:57] I think the first step is to have a meeting of all the platform providers. [14:00] I've talked to the president about this and others. [14:02] I believe that's the next step. [14:04] I think we need to do it quickly. [14:05] And each of them, even those gentlemen that I've named, they all agree that that would be an efficacious thing. [14:12] And so we're going to pull everybody together and make sure we do this in the right way. [14:15] But it is a top priority for me and for the Congress. [14:17] All right. [14:17] Well, we will track that meeting very closely. [14:20] Speaker of the House, Mike Johnson, thank you so very much for joining us. [14:23] We appreciate it. [14:24] Thanks so much. [14:27] We thank you for watching. [14:28] And remember, stay updated on breaking news and top stories on the NBC News app [14:33] or watch live on our YouTube channel.