Russ Vought

We have a sizable cut to National Science Foundation.

But it will not impact our investments on artificial intelligence.

Second question.

I was interested in the revenues in the budget that you've sent over.

One revenue in particular that interested me was tariffs, what you're assuming for tariffs.

You can see that the numbers on tariffs were sort of bumping around at less than $100 billion a year, $100 billion in 2022, $195 billion in 2025.

when the tariffs started to kick in in IEPA.

Tariffs have been determined to be illegal by the Supreme Court, the IEPA tariffs.

Next week, you're starting to refund $166 billion of tariffs.

So I was interested to see what your tariff projection was going to be.

And actually, what I see is, far from going down as you're refunding illegal tariffs, you're predicting dramatic increases in tariffs.

What is President Trump gonna tax next?

Senator, what you're looking at is we had 10-year assumptions for the IEPA tariffs, and those should be shaded a different way.

Obviously, the Supreme Court changed our strategy on that, and we are going through a process to replace those, but we do not believe that the tariffs will be less than under IEPA.

So if you're going through the process—

Tariffs are a tax.

I'd like to introduce, Mr. Chair, two documents from the New York Federal Reserve.

90% of the cost of the tariffs last year fell on American consumers and businesses.

And another from the Tax Foundation.

The average in 2025 was $1,000 per American tax household, if I could introduce them.