'VERY CONCERNED': Pressure builds as shutdown enters a new phase

Here's a detailed summary of the YouTube video transcript, maintaining the original language and technical precision:

Key Concepts

• Permian Basin Oil Production: Discusses growth and policy impacts on oil extraction in the Permian Basin.
• Red Tape Reduction: Focuses on executive orders and legislative efforts to streamline permitting processes.
• Government Shutdown: Explores the ongoing shutdown, its causes, and its impact on federal workers and the economy.
• Healthcare Policy: Debates the Affordable Care Act (ACA), its effectiveness, and proposals for reform, including Medicare for All and prescription drug pricing.
• Legislative Strategies: Examines the use of executive orders, codifying policies into law, and potential use of the filibuster exception.

Permian Basin Oil Permitting and Policy

The discussion begins with a statement from Mike Wirth, COO of Chevron, highlighting the reduction of "red tape" through executive orders that streamline the oil permitting process. He emphasizes the need to codify these changes into legislation to ensure their durability.

Congressman Ro Khanna reacts to this, presenting data that contradicts the notion of significantly easier permitting under the current administration. He states that the Permian Basin in 2024, under Biden, produced 6.3 million barrels per day, representing 7.5% growth, and that growth this year is actually lower than in 2024 due to lower oil prices and reduced investment. Khanna argues that President Biden has struck a balance between environmental protection and higher growth.

Maria Bartiromo challenges this, citing the sentiment of August Pfluger and various CEOs who believe permitting is easier under the Trump administration. She questions Congressman Khanna on his willingness to codify any permitting reforms into law to provide long-term stability for companies investing in America.

Congressman Khanna reiterates that data, not subjective feelings, matters. He challenges CEOs to prove that data is wrong, stating that producing more oil in the Permian Basin in 2024 than 2025 is a public fact. He asserts that President Biden's policies allow for environmental protections, including methane regulations, while still increasing production. Khanna then pivots to the issue of utility bills, claiming they have "skyrocketed" under Donald Trump due to cuts in solar and wind energy, advocating for an "all of the above" energy approach.

Government Shutdown and Federal Worker Pay

The conversation shifts to the ongoing government shutdown, now on its 28th day. Maria Bartiromo expresses concern about the risks associated with the shutdown, mentioning pilot unions, airline associations calling for a clean CR (Continuing Resolution), SNAP benefits expiring, and air traffic controllers calling in sick, raising safety concerns.

Congressman Khanna agrees, stating he is "very concerned" and has spoken with the head of the Flight Attendant Union about safety issues. He emphasizes the immediate need for Congress to vote to pay troops and air traffic controllers, suggesting that if Speaker Mike Johnson called Congress back and put up a clean bill to pay essential federal workers, it would pass with bipartisan support. He believes Congress should not be paid while essential workers are not. He also points out that Republicans attempted to vote to pay the military, but Democrats largely blocked it.

The transcript notes that the House of Representatives is not in session. Congressman Khanna believes that if Speaker Johnson called Congress back and proposed a clean bill to pay troops and essential federal workers, it would pass. The problem, he suggests, lies with appropriations and budgetary issues, with some not wanting to support them until healthcare spending is resolved.

Healthcare Policy and Affordable Care Act (ACA)

The discussion then delves into healthcare, with Maria Bartiromo referencing Marjorie Taylor Greene's warnings about healthcare spending. Bartiromo questions Khanna about his previous statement that the amount of money requested for illegal migrants' healthcare was "minuscule," and that Republicans claim a "big chunk" of requested funds goes to undocumented individuals. She asks what he would say to those who believe he is pushing to keep the government closed to fund healthcare for illegal migrants, impacting ordinary Americans.

Congressman Khanna refutes this, stating, "That is not true." He clarifies that they are pushing for an extension of Affordable Care Act (ACA) tax credits, which are used by American citizens. He asserts that the concern about healthcare costs spiking for ordinary families is clear, and that Democrats want what is already in the ACA tax credits passed by President Obama. He notes that Donald Trump wanted to repeal Obamacare, but this issue has "nothing to do with folks undocumented."

When asked if he believes Obamacare has been a failure, Khanna states that its "faction one" covered young people up to 26, covered pre-existing conditions (like diabetes and cancers), and that many Americans who previously lacked insurance gained coverage. He also claims it slowed the growth of health insurance increases. However, he believes "we need Medicaid for all" as the private healthcare system is "broken" and could be better, though it was "even more broken" before the ACA. He questions where the Republican healthcare plan is, along with childcare and cost of living plans, calling Marjorie Taylor Greene's approach a "do-nothing Congress."

He clarifies that he believes Obamacare "made the system better than it was" but requires "significant reform." He suggests Medicare for All would reduce costs, citing administrative costs and the ability of Medicare to negotiate with pharmaceutical companies. He mentions introducing President Trump's executive order as law to ensure Americans don't pay more for prescription drugs than other countries and questions why Congress won't pass it. He reiterates the need for reforms but not at the expense of increasing premiums for American families.

Maria Bartiromo highlights that Congressman Khanna aligns with President Trump on decreasing prescription drug prices. She then presents the "word in Washington" that the shutdown is due to Democratic leadership being "afraid of extremists" like Alexandria Ocasio-Cortez potentially primarying Chuck Schumer, forcing him to oppose President Trump and create chaos.

Congressman Khanna disagrees, stating it's not about Bernie Sanders or AOC, but that the "entire country doesn't want healthcare premiums to go up 40, 50%." He argues that extending existing tax credits for American families to prevent healthcare costs from skyrocketing is "pretty reasonable," especially when tax breaks are given to corporations. He wishes for an agreement on this.

Legislative Tactics and Filibuster

Bartiromo asks if Khanna voted for a "clean CR" under the Biden administration, implying it's the same CR now. Khanna confirms it is, but states that it was conditional, and at this point, tax credits are expiring. He argues that they can pass this with 51 Senate votes and an exception to the filibuster, similar to how Trump's appointees were confirmed. He calls for giving President Biden credit where due for the need to extend healthcare tax credits.

Bartiromo then asks if he wants them to use the "nuclear option" and remove the filibuster. Khanna denies it's a "nuclear option," stating it has been used for confirming judges and presidential appointees. He believes it can be used for an exception to the filibuster to keep the government open, supporting this under both Democratic and Republican presidents, as the American people are tired of shutdowns.

Economic Impact of Shutdown

When asked about the odds of the shutdown turning into an economic shutdown with serious impacts on jobs and growth, Khanna expresses significant concern. He knows personally people not getting paid and federal workers unable to spend, which he estimates as a 0.1% hit to GDP each week. He stresses the need for a national consensus for Congress to be open and voting daily, and for essential workers to be paid. He criticizes Speaker Johnson for not having Congress work for the past 30 days, calling for bipartisan outrage.

Continuing Resolution and Future Funding

In a quick exchange, Maria Bartiromo asks if a clean CR funding government until November 21 is off the table, and if he would support funding government well into the first quarter of next year. Congressman Khanna states he would, "as long as we have Affordable Care tax credits," and supports paying troops and essential federal workers to avoid hurting the economy.