The next is the transcript of the interview with Reps. Tom Suozzi, Democrat of New York, and Don Bacon, Republican of Nebraska, that aired on “Face the Nation with Margaret Brennan” on Nov. 16, 2025.
MARGARET BRENNAN: We start immediately with two members of the so-called Home Downside Solvers Caucus, New York Democrat Tom Suozzi and Nebraska Republican Don Bacon. Good morning. Good to have you ever right here in a bipartisan dialog. You each acknowledge there’s an issue right here. Congressman Bacon, let me begin with you. One out of each 5 {dollars} on this nation that’s spent goes to well being care. We all know these Covid-era tax credit score subsidies for Obamacare will go away on the finish of the month.* That is going to hit about 22 of the 24 million Individuals who use that program. What are you able to do within the subsequent six weeks to make prices go down in January?
REP. DON BACON: Properly, we’d like a short lived extension of those tax credit to maintain these costs down. Republicans nor Democrats need to see premiums skyrocket, and they’ll if these expire with nothing as a substitute. That is why I labored with Tom Suozzi and different Democrats and Republicans to discover a compromise. We simply need to do a clear extension. Most Republicans do not anyway, so we predict there must be some caps on earnings, and we need to guarantee all these credit go on to reducing individuals’s premiums. And proper now, a few third of the cash does not make it to the premiums. So these are some reforms that we want to see. And if we will get these achieved, then we will lengthen these tax credit and maintain these- the costs decrease, however we do want a long term repair. The Inexpensive Care Act is unaffordable, and I feel we have to have this extension to offer us time to work on one thing larger and deeper, and that may assist decrease prices total. However I am proud to work with Tom Suozzi on this, and I admire his partnership.
MARGARET BRENNAN: Congressman Suozzi, I perceive it is a two-year proposed extension of these enhanced premium tax credit and an earnings cap that phases out for these making between $200,000 to $400,000. Once you have a look at the breakdown, although, that is a reasonably small portion of the general recipients of the tax credit, it is like lower than 10%. So what does this accomplish? How does this make it extra inexpensive and truthful?
REP. TOM SUOZZI: Properly, it helps everyone else who makes below $200,000 dramatically. And the primary concern individuals have in America is affordability and well being care affordability is correct on the prime of the record. So we have to do one thing to increase these premium tax credit–
MARGARET BRENNAN:– How rather more inexpensive?–
REP. SUOZZI: — It will save individuals hundreds and hundreds of {dollars}, actually $1,000 a month for some individuals. So it will be dramatically extra inexpensive. The individuals who make above $400,000 are the teeny little proportion of individuals that aren’t a really small group of individuals that might profit from the present tax credit. Most people are below- beneath $200,000. That $200,000 to $400,000 is a method to taper it off so there’s not a cliff.
MARGARET BRENNAN: And the way a lot Democratic assist do you have got for this at this level?
REP. SUOZZI: I feel the Democrats are going to strongly again the thought of extending premium tax credit in order that we will maintain individuals’s insurance coverage inexpensive. So, we have got to give you this compromise–
MARGARET BRENNAN: — Even with these caps?–
REP. SUOZZI: — Even with the caps. Yeah, people- Democrats have at all times mentioned that they need to direct the coverage in direction of decrease and center earnings people, individuals making below $400,000 a year- is- are bread and butter points that we need to attempt to make issues inexpensive for these people. So- and that shall be like actually 95%- 99% of the individuals which are affected proper now.
MARGARET BRENNAN: Congressman Bacon- sorry, go forward.
REP. BACON: I might simply say, as Republicans, we push again on the considered somebody incomes $600,000 getting all these tax credit. So after I listened to Speaker- or Chief Thune, that was one among his massive considerations on these in order that’s why I needed to make sure that we had this in our framework.
MARGARET BRENNAN: However a tweak with a not everlasting, only a two-year extension. Republicans have not actually been proposing plenty of different Obamacare choices right here. Do you assume all the system must be rebooted, and when will we see that plan?
REP. BACON: Properly, I do I feel Republicans and Democrats have to sit down down on the desk and determine, what can we actually do in addition to simply throw more cash at this. Proper now, the- you recognize, the premiums are simply going up a lot sooner than inflation. It is unsustainable and- however we won’t do a Republican solely repair it. It is not going to work. You are not gonna get 60 votes within the Senate to do it. And I do know actually some people proposed that again in Congress. Let’s go up with our plan. Properly, it could possibly’t simply be a Republican plan if we need to cross one thing. So we obtained to sit down down with Democrats and determine what can we do. And there is some good concepts on the market. So for instance, you recognize, I’ve heard, you recognize, if we will straight subsidize excessive threat individuals and put them in a separate pool and simply decrease their premiums by way of subsidies, after which the we will name it, the more healthy people, their premiums go- are going to go down considerably if we do this. So there’s completely different ideas that we will do to that may have an effect, however it’s going to- to be a bipartisan means ahead. It is not going to be a Republican solely invoice, since you’ll by no means get it handed.
MARGARET BRENNAN: Congressman Suozzi, I imply, Aetna pulled out of the Obamacare market this 12 months after CVS mentioned they anticipated to lose as a lot as $400 million. Different massive insurance coverage firms have been pulling out. If insurance coverage firms themselves are having issues with Obamacare, do Democrats should be extra open to broader reforms of the Inexpensive Care Act?
REP. SUOZZI: Yeah, we completely must be any sort of reform. I need to mend it, not finish it. You already know that over the previous decade that there have been over 70 makes an attempt, primarily by the Republicans, not guys like Don Bacon, who’s a really cheap man, to attempt to eliminate Obamacare altogether. We predict that is a horrible thought. But when individuals need to attempt to make it a greater system, to make a- well being care extra inexpensive in America and to get well being care to extra individuals, we must be doing that. That is what the individuals need. That is what cheap individuals in Congress need. We must be working collectively to attempt to increase well being care protection, decrease costs for everyone, and make well being care simpler and cheaper for individuals. Now that is not going to occur with everyone yelling and screaming at one another. Everyone says, why do not you just- does not know what the hell they’re speaking about. You can’t remedy difficult issues in an setting of worry and anger, you want cheap individuals to sit down down and speak to one another and say, I feel this. Properly, I feel that, after which work your means in direction of discovering compromise, very laborious to do on this poisonous setting. Folks like Don Bacon and different members of the Downside Solvers Caucus need to do this kind of factor.
MARGARET BRENNAN: Yeah effectively, however personal well being care prices are additionally going up. However on this subject of poisonous environments right here Congressman Suozzi, Democrats who gained elections only a few days in the past credited their wins to this affordability difficulty and the message centered on that. Are you able to clarify the main focus this previous week within the Home by Democrats on the Jeffrey Epstein recordsdata? Is that this a tactic to distract from the failure to extract well being care modifications, or is there one thing else occurring right here? I imply, does the Speaker placing it to a vote finish this difficulty?
REP. SUOZZI: I feel it is a mixture of things, of individuals shining their lights on essentially the most sizzling subject on the time. You already know, Jeffrey Epstein, after all, is a crucial subject. I am positive I will vote to launch his recordsdata, however that is not my precedence. My precedence is to concentrate on the issues that the American individuals care about: affordability, immigration, taxes, crime and well being care. That is what persons are combating about, that is what they’re involved about, that is what we must be centered on in Congress.
MARGARET BRENNAN: Congressman Bacon, does the Speaker placing this to a vote finish the Epstein difficulty and get you again on to well being care? I imply, the Speaker mentioned that is all a political train. Actually the households of the victims do not assume it’s.
REP. BACON: I feel the Speaker realizes the prepare has left the station on this. Let’s rip the Band-Help off and get it accomplished. I want the president realized that. The extra the White Home pushes again on this. It is, you recognize, it simply seems to be unhealthy, proper? I imply, it was- the lawyer common got here out and mentioned, all these white binders, we’re gonna launch all this data after which, a month later, mentioned, Oh, no, we’re not. So it has been a PR blunder from the start. And I feel the Speaker is correct, that is gonna occur, so let’s get it accomplished and vote on it. Now, we obtained to comprehend it nonetheless has to go to the Senate. Then it has to go to the president for a signature. In the meantime, our Oversight Committee is releasing hundreds and hundreds of pages of proof regarding Epstein. So for instance, like 3,000 pages was launched late final week. So the Oversight Committee, Republicans and Democrats are placing out the information. They’re placing out subpoenas. I feel it is already working, however like Tom when this comes on the ground, I will vote sure on it. I would like transparency. We must- we need to shield the victims, however all the pieces else ought to simply be- must be open.
MARGARET BRENNAN: You additionally. Congressman Bacon, run the Cyber Subcommittee. I need to ask you about one thing vital this previous week that AI agency Anthropic mentioned that Chinese language state sponsored hackers used their expertise to automate break-ins and perform the primary cyber espionage operation, largely utilizing AI. It hit like 30 completely different firms. What are you able to inform us in regards to the scope and the targets of this assault?
REP. BACON: I am unable to say rather more than what was simply launched. Apart from I can say this, China has changed Russia as essentially the most formidable cyber risk. They’ve a lot greater expertise. They’re utilizing AI, which provides you much more functionality to find weaknesses in your adversaries’ cyber defenses. What considerations me greater than something, whereas China is attacking us each single day, and Russia, we have had no commander accountable for cyber command for over eight months. You already know, the White Home or the president, fired the Cyber Command commander over eight months in the past and has not changed him. Additionally, the highest two positions on the Nationwide Safety Company, the highest two are vacant for over eight months, and we have been slicing CISA, which is the- the company that protects our personal sector, our companies, our infrastructure, and we have minimize it by a few third. And so our cyber capabilities are going backwards. We do not- we’re rudderless in a time the place China is attacking us every single day, and that is one thing that actually considerations me, and I have been pushing the White Home to- to take care of this and to confront the cyber risk.
MARGARET BRENNAN: Properly, we’ll proceed following that essential story. Congressmen, thanks for attempting to be drawback solvers with us immediately. Face the Nation shall be again in a minute. Stick with us.
*EDITOR’S NOTE: The improved premium tax credit are set to run out on the finish of 2025.
