{"database": "press", "table": "releases", "rows": [["https://www.warnock.senate.gov/newsroom/press-releases/whos-served-by-this-economy-warnock-makes-clear-who-president-trumps-economy-is-helping-and-hurting-in-senate-banking-hearing/", "\u201cWho\u2019s Served by This Economy?\u201d Warnock Makes Clear Who President Trump\u2019s Economy is Helping and Hurting in Senate Banking Hearing", "2026-06-24", "2026", "2026-06", "Democrat", "Senate", "GA", "Raphael G. Warnock", "W000790", "www.warnock.senate.gov", "warnock", "https://www.warnock.senate.gov/newsroom/press-releases/", "scraper", "Yesterday, during a Senate Banking committee hearing, Senator Reverend Warnock detailed how President Trump\u2019s economic policies are hurting ordinary Americans\n\nPresident Trump\u2019s policies and domestic agenda have added an enormous amount of money to the national debt without alleviating prices for American families\n\nNearly 1 in 20 households\u2014equivalent to roughly 14 million Americans\u2014are severely behind on their utility bills and risk facing collections\n\nIn the past year, nearly 40% of Americans have had to turn to credit cards to pay their bills and pay for everyday essentials\n\nSenator Reverend Warnock: \u201cSo, who\u2019s served by this economy? There\u2019s a long range of people who seem to be suffering. Who\u2019s served by the economy\u2014the Trump economy?\u201d\n\nWashington, D.C. \u2013 Yesterday, during a U.S. Senate Banking Committee hearing, U.S. Senator Reverend Raphael Warnock (D-GA) detailed how President Trump\u2019s economic policies are hurting ordinary Americans and benefiting the ultra-rich. A recent Fox News poll found that more than half of all voters feel that President Trump\u2019s economy helps rich people, and three out of five voters feel pessimistic about the economy overall.\n\n\u201cSo, who\u2019s served by this economy? There\u2019s a long range of people who seem to be suffering. Who\u2019s served by the economy\u2014the Trump economy?\u201d Senator Warnock asked. \u201c[Donald Trump] has been at it for 18 months. He\u2019s raised costs for everybody, shredded a safety net meant to catch people during tough times. This Trump economy isn\u2019t just bad\u2014for me\u2014it\u2019s a moral abomination.\u201d\n\nSince assuming office in January 2025, President Trump\u2019s policies and domestic agenda have raised costs for American families. Washington Republicans\u2019 signature legislation, the One Big Beautiful Bill Act, forced millions of Americans off their health care due to premium price hikes in Affordable Care Act health plans. The Republican tax and spending legislation is also responsible for $186 billion in nutrition cuts from the Supplemental Nutrition Assistance Program (SNAP) a cuts in the program have resulted in SNAP participation already falling by more than 4.3 million people, including 700,00 children, with more cuts yet to come. Republican policies have put an enormous strain on American families trying to make ends meet.\n\nAs a leader on the Senate Banking, Housing, and Urban Affairs Committee, Senator Warnock continues to push back against the Trump administration\u2019s reckless economic policies and the rising prices it creates for ordinary Georgians.\n\nWatch the Senator\u2019s full remarks HERE\n\nSee below a transcript of today\u2019s hearing exchange\n\nSenator Reverend Warnock (SRW): \u201cWell, thank you so much. Your introduction was prescient, you\u2019ll see why, Brother Chair. According to a recent Fox News poll, more than half of all voters feel that President Trump\u2019s economy only helps rich people, with an additional 15% saying his economy helps \u201cno one\u201d. And that same Fox News poll found that three out of five voters feel pessimistic about the economy. Doesn\u2019t matter much what those of us on this panel feel, it\u2019s what the American people feel. Consumer sentiment is near record lows. Ordinary Americans know Donald Trump\u2019s economy isn\u2019t working for them.\n\n\u201cDr. Morgan, you\u2019re an expert on the economy. I don\u2019t know your faith tradition, or if you share a particular faith tradition at all, but I\u2019m a Matthew 25 Christian. Meaning, I like to center my work on the least among us, the poor, the most marginalized. Isaiah, whom I\u2019ve been reading a lot lately, says, \u2018Who are you to crush my people, to grind the face of the poor?\u2019 So, I want to dig into that verse from Matthew 25 to assess the Trump economy. It says, \u2018For I was hungry and you gave me something to eat, I was thirsty and you gave me something to drink\u2019. Dr. Morgan, how have the president\u2019s policies been for hungry Americans?\u201d\n\nDr. Julie Margetta Morgan (JMM): \u201cSenator Warnock, the president\u2019s policies have pushed more and more Americans into hunger. We\u2019ve seen actually 4 million people lose their SNAP benefits under this administration, as about 700,000 of them were children. And the Century Foundation\u2019s own polling shows that one in three Americans have skipped meals in order to deal with their, their cost of living crisis.\u201d\n\nSRW: \u201cYou said 4 million Americans? And you said 700,000 of the Americans kicked off of SNAP are children?\u201d\n\nJMM: \u201cThat\u2019s right.\u201d\n\nSRW: \u201cBecause I met with the Speaker and others, and you know they\u2019re saying that they\u2019re, that you know, these are able-bodied men who are kicked off of SNAP, but you\u2019re saying these cuts are leaving children food insecure?\u201d\n\nJMM: \u201cThat\u2019s right.\u201d\n\nSRW: \u201cLet\u2019s try another one. The text goes on to say, \u2018for I needed clothes, and you clothed me\u2019. Dr. Morgan, how have the president\u2019s policies been for poor, unemployed, or unhoused Americans?\u201d\n\nJMM: \u201cThe president\u2019s\u2014the tax cuts alone had a massive effect on low-income families. Low-income families actually lost money under H.R. 1 to the tune of about $1,200.\u201d\n\nSRW: \u201cThat\u2019s the One Big Beautiful Bill?\u201d\n\nJMM: \u201cThat\u2019s right. But the Trump administration has also taken other actions that directly target poor and unhoused families. The Trump administration has attempted to impose time limits and work requirements on rental assistance. They\u2019ve proposed cuts and changes to programs that support the homeless. And then rising utility costs are also hurting the poorest families as well.\u201d\n\nSRW: \u201cMatthew 25 says, \u2018For I was sick, and you looked after me\u2019. What about the President\u2019s health care policies, especially when it comes to health care affordability?\u201d\n\nJMM: \u201cThis is really an acute problem for families right now. We\u2019ve seen cuts to Medicaid that have taken insurance away from families. We\u2019ve seen the failure to extend the ACA premium tax credits that has jacked up the cost of health insurance premiums for many American families. We\u2019re also seeing increasing costs on employer-sponsored plans. So, people are really faced with the choice right now of being uninsured or choosing kind of like a skimpier health insurance plan in order to get coverage, and at the same time\u2014\u201d\n\nSRW: \u201cThe Trump administration and Washington Republicans cut $1 trillion out of Medicaid\u2014they call it waste, fraud, and abuse. Is it fair to say they cut more than waste, fraud, and abuse?\u201d\n\nJMM: \u201cThat is correct. They cut care for American families.\u201d\n\nSRW: \u201c\u2019For I was a stranger\u2019\u2014the text says\u2014\u2019and you invited me in\u2019. How has the Trump economy been for law-abiding immigrants and dreamers living in the shadows?\u201d\n\nJMM: \u201cWe\u2019ve seen a kind of xenophobic attack on our immigrant neighbors. We\u2019re seeing families who are afraid because of the actions of ICE to go to work and to send their families to school. It\u2019s incredibly crushing, both for those families and for their communities and those of us who live among people, and then we\u2019ve also seen this, these attacks to try to take away benefits and programs from law-abiding immigrants, so it\u2019s hugely concerning.\u201d\n\nSRW: \u201cSo, who\u2019s served by this economy? There\u2019s a long range of people who seem to be suffering. Who\u2019s served by the economy\u2014the Trump economy?\u201d\n\nJWW: \u201cI mean, it serves the rich, right? It serves Donald Trump himself, it serves his billionaire colleagues, and it serves, you know, the banks who are represented here at this hearing, who have gotten the Trump administration to roll back protections for working families in order to maintain their profits.\u201d\n\nSRW: \u201cI\u2019m a few seconds over, and so I\u2019m going to bring this to closure, Brother Chair. But Donald Trump has been president for 18 months, and while he and his advisors love to blame Joe Biden, Joe Biden, Joe Biden for rising costs, Americans elected him to lower costs. He\u2019s been at it for 18 months, he\u2019s raised costs for everybody, shredded a safety net meant to catch people during tough times. This Trump economy isn\u2019t just bad, for me, it\u2019s a moral abomination. This is bigger than politics, it\u2019s about humanity.\n\nThank you so much for your testimony.\u201d\n\n###", 1, "2026-06-25T06:30:03Z", "2026-06-25T06:31:21Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.warnock.senate.gov/newsroom/press-releases/whos-served-by-this-economy-warnock-makes-clear-who-president-trumps-economy-is-helping-and-hurting-in-senate-banking-hearing/"], "units": {}, "query_ms": 0.8041888941079378, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}