and companies are saying. when the party is over after labor day, we'll see what the impact of all this spending actually will be. all right, that's going to do it for us tonight. on fox business tonight. "the evening edit" starts right now. >> liz: okay, tonight, president biden's midterm strategy revealed its dividing half the country, attack trump voters as "semi-fascist". this is the hillary deplorable moment and the fbi's political fire storms hits heavily redacted affidavit justifying the historic raid on trump's home.

one justification stands out as notably absurd and filled with hysteria. and with us tonight, economic expert andy puts merri bowl, congressman french hill, claudia tenny, former congressional investigator sam, and more. okay, we've got dozens of fbi whistle blowers warning congress fbi headquarters is interfering in u.s. politics like blocking the hunter biden probe at the bidding of top democrats till after the 2020 election. and mark zuckerberg says the fbi pressured facebook too . and the democrats called out by dc media for false advertising on their climate bill. what they're saying is so bad it would be "illegal for a private company to do that". and we've got dolly and jenny linns on the hot deal now in california's housing. and california's push to wipe

out gas cars and joe the plumber can't afford electric cars or bills either. "the evening edit" starts right now. welcome to the show. a sea of red on wall street. we begin with stocks in a broad selloff today. losses accelerated into the close and the dow plunging a thousand points and federal reserve chair jerome powell warned the fed will act forcefully to contain a 40 year high in inflation. higher interest rates are here to stay. edward lawrence live in jackson hole wyoming with more. good to see you. edward: yeah, liz, it's been very busy and a lot of buzz with what's happened in the markets and it's as plainly as i've ever heard federal reserve chairman jay powell speak, and i've never heard a federal reserve chairman set up the american people for as much economic pain over

inflation as he did like this. listen. >> there will very likely be softening of labor market conditions. while higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. these are the unfortunate costs of reducing inflation. edward: after the speech i talked with atlanta fed president and he says the chairman was trying to prepare people for possible job losses. he would at not say if inflation peaked yet but he's seeing a economic slowdown. >> the data that we're seeing right now i think actually is positive to suggest that the slowdown is happening, the gap between demand and supply is reducing, and it's happening in an orderly way. if that can continue, i think because there's so much momentum and job creation that's still happening, we may be able to avoid job loss, but we'll have

to just monitor this very closely. edward: the federal reserve chairman today saying that the responsibility to get in front of inflation and bring it back down is unconditional by the federal reserve. back to you. liz: edward lawrence, great reporting. joining us now congressman french hill from house financial services and former cke restaurant andy putzner. andy, what do you make of that report? sounds like we need to rate hikes to bring inflation down. what your reaction to what you just heard? >> happy friday, liz. good to be with you. yes, we need to be unleashing the supply side. we need to make the tax cuts from president trump permanent and unleash american energy and remove any regulatory barriers this administration is putting up that's causing that supply

chain, those jobs: trucking, innovation to be blocked. as absolutely what we should do. on the report, look, what's happening is interest rates are now normalizing from zero after a period of extraordinary accommodation combined with rampant federal spending and so we're behind the curve, that's what jay powell is acknowledging. inflation is stubborn but we need a supply side unleashing and we need the normalization of interest rates. liz: yeah, inflation is sticky and subborn, andy, but president biden make it is about trump. the midterms are not about the bad company but maga voters and he attacked half the country and watch the governor make a wild claim too, watch. >> i respect conservative republicans. i don't respect these maga represents. >> what do you mean by semi-fascism, sir? >> you know what i mean.

>> we're here to say that the era of trump and zeldon and malinero, just jump on a bus and head down to florida where you belong. you do not represent our values. you are not new yorkers. liz: this nation is being run by nit wits. we're supposed to feel like half fascist, that should make half the country feel better and the president is saying this when we're in a downturn at the same time at fbi raid of trump's florida home, andy. what's with the governor too? >> they're nit wits but they are doing everything they can to divert attention from the real issues that moms can't even figure out if they have gas to take kids to out of town soccer games or put a healthy meal on the table. they're worried about crime coming out of the inner cities and into their neighborhoods or homes. they're worried about parents who are called terrorists for trying to get involved in their kids education, and they're

worried about people strolling across our border and bringing crime and fentanyl with them and the democrats can't talk about those issues and they've got no policies to address the issues and those issues were caused by biden policies and they continue to spend and spend and spend at the same time jerome powell is raising interest rates to try and stem economic growth and inflation down. you said they were nit wits. you're right. they're nit wits and they're trying to find out if rest of america is made up of a bunch of nit wits because anybody that believes these people, has to have ignored everything that happened over the past two years. liz: we rarely go there but nit wit was just a fun word to say. it's fun to say. >> i like it. liz: it's enjoyable to say. congressman, we've got wells fargo senior economist tim quinoline saying it feels like we're in a recession and tens of millions of blue collar and joe

the plumber worker are not going to be excluded but going to have to pay higher taxes. a recent student loan debt isn't free. more democrats are opposed and axios reporting the education department is not ready to handle this. is that true? >> of course it's true because how did we get in $1.7 trillion of student loan debt? it was president obama trying to pay for obama care that suddenly we don't do any underwriting. we just give this money away. with which makes education inflation higher than healthcare inflation. it means that the government is in conspiracy with bad student aid offices essentially like predatory lenders and now they're fostering the debt relief on the abacks of hard working taxpayers and 80% didn't even go to college. it's a false game and immoral and not the way to go about it and plenty of constructive ways

to help people pay their college loans back like employment. like working in public service. using it as a recruiting tool by corporations recruiting high-talent students. the bottom line. wealthy people are the predominant users of student loans when you look at 50% of that total student loan balance are for folks graduating from law school and medical school. liz: co-the congressman's point took into ctoo, andy, this is af the corrupt academic system doing tuition gouging of middle class families while they're living on the hog tax free. >> this is plumbers and truck drivers paying for the education of overeducated underemployeed individualed and helping to raise the salaries of professors who go to college and they teach these students to hate america. and you've got american taxpayers who afford to go to

college footing the bill it. is an absurd policy and it's a policy that will help ignite inflation. just like they're spending bill back in march of 2021. the more the government spends, the worse inflation gets. it's almost incomprehensible what they're doing and something that 80% of americans that didn't go to college should certainly be concerned and upset about. liz: what else is incomprehensible is the democrat chaos and they've been all over the map. watch this : >> my daughter is getting out of school, i saved all my money, she doesn't have any student loans. am i going to get my money back? >> of course not. >> so you're going to pay for people who didn't save any money and those of us who did the right thing get screwed. >> people think the president of the united states has the power for debt forgiveness, he does not. he can postpone, he can delay but he does not have that power. that would have to be an act of congress.

your child just decided they want to -- at this time not want to go to college but you're paying taxes to forgive somebody else's obligations, you may not be happy about that. >> the fairness question, the people that are sitting at home having just paid off their student loans or years ago, what's in it for them? liz: nothing. congressman, is nancy pelosi going to tell the president he doesn't have the authority to do this? >> over 100 republicans wrote her a letter today saying she should but this should be only considered by congress. liz, we see this time and time again where the executive branch has to under article 2 fully execute the laws passed by congress but they can exaggerate it. with president obama with daca and president biden on this. he doesn't have the authority to forgive $300 billion of debt and stick on the hard working

taxpayers. liz: sounds like a fight coming. andy gallop saying the president's approval rating up 6 percentage points to 44, the highest in a year. he's still under water and 53% disapprove of his job since i think he started. he's been under water. andy, your take on this? are we headed for a split congress because the president's party, it gained just seats in just two races. george w. in 2002 and bill clinton in 1998. are we headed for gridlock? >> we could well be headed for gridlock but that would be the most positive thing that happened since january of 2021. we need to slow the agenda, the biden agenda. it's doing tremendous damage to the country and it's no wonder his polling is up some. he's out there telling all these students he's going to forgive their debt. it's not till after the election before the courts tell him he

doesn't have the authority to do that. liz: yeah, and the students are going to have to pay higher taxes for that too . congressman hill and andy, have a good weekend. the fbi's political fire storms and fbi's controversies and heavily redacted affidavit justifying the his toric raid on trump's home and voter concerns are not swayed and one justification says it's notably absurd .x dozens of fbi whistle blowers warn congress, yes, fbi headquarters is politicized and interfering in u.s. elections in favor of democrats. mark zuckerberg is saying the fbi pressured facebook too to suppress the hunter bind story. congressman greg stooby on that. >> the fbi coercing facebook to sensor information is a direct violation of the first amendment and the agency according to mark zuckerberg interfered in 2020 election just after the 2016 election, james comey who was

the fbi director at the time buying into all the contents of the steel dossier that ultimately launched the russia ♪

pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes.

[ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. ♪ ♪ how's he still playin'? aspercreme arthritis. full prescription-strength. reduces inflammation. don't touch my piano. kick pain in the aspercreme. 2020 election warned meta, the parent of facebook about russian

disinformation ahead of bomb shell hunter biden laptop story and that led to sensorship of facebook and susan is the latest. >> hunter biden laptop story and meaningful about and warned by national intelligence. >> we thought a lot of russian propaganda and has to be the dump of vigilant. >> he views the fbi as a institution and unlike twitter that banned the story completely and the new york post and market

director both publicly testified and he did testify in congress in 2020 that meta was worried about possible russian interference but not specifically about the hunter biden story, which revealed some questionable e-mails between the president's son and his business dealings with associates. we have gop leadership weighing in and fbi and new stories weeks before the 2020 election and democrats in congress ignoring the facts and republicans back in charge and we'll hold a lot of them accountable and meta handling the situation at the time and it's reasonable in his words. liz: good story there. welcome to the show congressman

greg steube from house foreign affairs. your reaction to the report. >> you have the ceo of facebook and vital information that affected the outcome of the election and they know differently had they known and censoring information and then you have fbi agents using their position to collude and conspire to change the outcome of an election. drafting right now to zuckerberg to find out the identity of these specific agents so that when we take the majority back, we have very tough questions to ask them. liz: zuckerberg said the distribution of the story was throttled back and the viewership on facebook did decrease of the hunter biden story and he was saying it was terrible and turned out after the fact. the fact checkers looked into it and no one was able to say it was false. >> it was by the dozens now and

resources are telling us. they're coming forward and fbi headquarters getting police sized and top fbi in dc and did the doing of chuck schumer, nancy pelosi and adam schiff and got the fbi to delay and brock k the probe into the treasury and bank documents and ron johnson with us last night. are these up seat and outraged with the whistle blowers? >> yes, that's why they're coming forward. these individuals are coming forward and say that inside the fbi there was an effort and chuck grassley was a scheme in september of 2020 to down play the derogatory information on

hunter and quash the investigation and specifically were told that the laptop didn't want tintier fear in the election. liz: congressman, what are you hearing about the fbi whistle blowers? >> there was 14 of which that came to jim jordan in the house and you had them involved in the 2016 election, you had the russian collusion and then getting warrants from the fiza court and this has been going on for years and whistle blowers are coming forward and people coming forward and americans are starting to see on the highest levels it's corrupt and politicized in trying to drive a narrative and drive the direction that they want politically this country to go. it's a violation of the law, and when we take the majority back, we'll hold all these individuals accountable. liz: so, you know, senator johnson and grassley, they sent a letter to two top fbi officials in dc to actually sit down for a transcribed interview

about why they all of a sudden out of the blue, they debrief the two senators about russia, you know, about russian disinformation after nancy pelosi and chuck schumer in july were red flagging this might be happening about hunter biden and then all of that stuff gets leaked to the media in order to destroy their senate finance and senate homeland security probe into hunter biden that found alleged crimes including things like prostitution and potential money laundering. backed by bank records. >> yeah, there's a ton of crimes evidenced on that laptop but the fbi and doj are refusing to investigate because it's the president's son. when the republicans take the majority back, we're going to flush all that out, make it transparent to the american people, and these facebook and twitter and these other social media sites will be held to an october and not be able to -- an act and not be able to violate people's first amendment rights.

liz: congressman steube, thank you for joining us. now the redacted fbi affidavit released today justifying its historic raid on trump's home. one justification stands out as notably absurd. plus, who at biden's doj continues to leak to the media? and watch out, america, the cbo now finds that, yes, democrats s climate and health bill will increase audits on joe the plumber and the middle class. we have the latest with congresswoman claudia tenny on "the evening edit".

liz: congresswoman claudia tenny of new york joining us. thanks for joining us. >> great to see you too. >> democrats are not going to have the irs do more audits of the middle class. liz: cbo in a little to lawmakers -- letter to lawmakers saying and what's going on here. and we should be having taxpayer advocates to help people with what we're doing now and members of congress, we're helping people through the irs pandemic issues. they have a backlog not getting refunds and taxes completed and now you'll see the easiest people to go after are the ones that can least defend themselves

and going to be going after them. many of these are small businesses and they create memories. liz: we're going to have the irs with major corporations and practically every major corporation is already audited by the irs every year. that's misleading. now they're going to look under every american's couch cushion to find extra change to pay for their, you know, irs audits? their climate and health spending and not seeing much of that and downturn in it because of inflation and continued spending and people saying it's lower and still at an all-time high and much lower and i run into people every day and i'm campaigning all over and young kids and ffa kids named devin and trent that said we want meme

tweets and $1 $1.89 gas. this is reality and farm kids and people need to get to work in up state new york in rural areas and we don't have public transportation. liz: new york governor kathy hochul say they're not real americans and should move to florida, the trump voters. >> they already have. we have the highest migration of people in florida where there's no income tax and no lockdowns and the aauthoritarian regime that kathy hochul is putting in place. we have it in effect and we're talking about going to electrify indication, banning gas cars, it's bad. liz: the other thing too, david eisner is saying $80 billion is twice of what bipartisan frame

work is agreed on, that's $40 billion. that's democrats agreeing on that. chuck schumer claims that trump administration audited the lower brackets. that's misleading and the inspector general of the irs says a quarter of earned income tax is loaded with fraud, it's fraudulent and the irs is mandatessed to go after that. mandated for that and it's misleading the american people. >> what we did for the tax cuts and jobs act makes it simpler and people needed to go through h and r block and help prepare tear taxes and you're going to have less requirements for audits and we made the tax code simpler and it was better for small businesses and those types of audits already occurred and some of the gaming going on in the system and for the large part it's going to be the big taxpayers. liz: congresswoman tenny from

new york, thanks for joining us. good to see you. >> thanks so much. liz: coming up, dolly and jenny lenz on rainbows and sunshine for home buyers and is this a housing recession a broader downturn before the midterm. the fiery debate with the fbi affidavit released today on the raid of trump's home and one justification pops out as notably absurd and filled with hysteria and leaking legal sam next. >> they take the attitude that americans aren't entitled and trust us in their abysmal track record especially in lying to the courts while seeking a warrant. americans shouldn't trust the department of justice and the

fbi. ♪

liz: the fbi affidavit used as a smoking gun for the raid at former president trump's florida home released today. heavily redacted. joining us now former congressional investigator and attorney sam duey. what did you make today? >> it was extraordinarily disappointing and concerning at the same time. the fbi and the department of justice when you're in law school it's a institution you hear great stories about. you generally trusted them. now you just doubt. you have suspicion and you don't

get answers and it has effects for the republic that are unknown. when you lose that type of confidence in the nation and that's the way. liz: the whistle blowers are stepping forward to talk to the house and senate about problems with politicization inside the fbi and the fbi aft and notably concerned. the fbi sites cbs miami news article did a january 2021 title with a truck spotted at mar-a-lago and two moving trucks observed at florida president trump's home and moving trucks spotted leaving the president's residence. what do you think of that? >> it doesn't indicate anything

and it's bizarre in isolation and that's the natch of the aggressive -- nature of the aggressive redactions and this case is one of a kind and unique and unless we have transparency, we're going to destroy public confidence in the justice and what's going on here. with the justice system. liz: the fiery debate in washington and this unanswered question and why do it now if trump was cooperating and 184 classified documents and the article of trump personal effects and still heavily redacted again we have to

acknowledge that and we still don't know voter's concerns and there's toxic government leaks in the media. >> the question of why now? we just don't know. there should be a public explanation of why this step is significant. and it's such a legally take this step and should you have taken this step. a good conscientious attorney general and conscientious team at the department should ask both those questions and have power to do it and should i do it. that should is the key question that remains unanswered and your leak point is great. the department of justice needs to stop acting like it is a usual case and it's unusual.

and it's authorizing information that had to come from the core team of the department. let me tell you there is no way that those leaks were not authorized by attorney general himself or by the deputy attorney general. liz: everyone from andrew cuomo to the new york and the washington post and the obvious that the justice department needed to quickly produce an explanation and through the process. >> absolutely. that's what's happening in the past. i ran contra oliver north was immunized and having his conviction overturned because of that. it was done anyway on a

bipartisan basis because of the importance of hearing the information public and without that, there's not going to be confidence and that lack of confidence will be across the board. we can't have confidence in anything. liz: sam dewey, thank you for joining us. >> thank you. liz: inflation, it's hitting your wallets hard. it's happening across the nation. we've got a stunning new report and it might be lights out for tens of millions of households. why? they're falling behind on their energy bills. this is a problem. plus dolly and jenny lenz on hot new housing and home sales going south. happening here on "the evening edit". ♪

liz: look who's back, dolly lenz and jenny lenz. good to see you. either of you take this on first. it's stunning and purchases and

single family homes are down from last year. what is going on here? are we in a housing recession? is this going to drop even more? >> we have to have exiting home places for the fixed rate and home builder confidence and interest rates are up again and inflation with everybody [inaudible] liz: okay -- your sound is cutting in and out. so if you could just like speak little bit more clearly, that would be great. go ahead, jenny. >> so not only are we -- we're

talking -- liz: we're having a bit of housing problems. we tease this and prices fell for the first time in three years and redfin are dropping their asking prices and boysy and denver and -- boise and denver and indianapolis and phoenix and when you see phoenix and tampa going down, your final word word? >> florida is hot -- liz: we're having technical difficulties and i'm glad we got some information out for you. dolly and jenny lenz, good to see you. have a good weekend this story, joe the plumber cannot afford

pricey electric cars and electric bills, they can't afford them either. we're joined next. ♪

pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions

are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an eligible samsung device with xfinity mobile. or add a line to your plan today at xfinitymobile.com i know there's conflicting information about dupuytren's contracture. i thought i couldn't get treatment yet? well, people may think that their contracture has to be severe to be treated, but it doesn't. if you can't lay your hand flat on the table, talk to a hand specialist. but what if i don't want surgery? well, then you should find a hand specialist certified to offer nonsurgical treatments. what's the next step? visit findahandspecialist.com today to get started. liz: here california u.s. senate nominee and constitutional law attorney, he's mark newser.

good to have you on and see you. thanks for joining us. >> thanksfor having me this evening. liz: 20 million u.s. households behind or their energy bills and 25% of the households saying they kept the temperature inside their homes at unsafe levels because of high energy costs and inflation eating away at their incomes. this is after people were like unnecessarily locked down and shut down and put in their homes and now this is going on hawaii do you think? >> congress has prioritized helping their special interest friends with more loopholes, yes, that inflation reduction act had two-thirds of the pages created more loopholes for special interest, and that's what they're focusing on. they're not focusing on the needs of we the people. they have abandoned the working class, they've abandoned those people on fixed incomes, and

they are pursuing policies for their agenda of their rich woke progressive, and this is hurting every day americans: this is unacceptable that one out of every six american households feel like they have to turn the heat up too high at unsafe levels or turn -- or keep the house too cold during the wintertime. this is unacceptable. rather than pursue the radical agenda of the left, it is time we start putting the needs of american families first. we got to handle this inflation by cutting our spending and we have to make sure that american families have jobs that pay their bills. liz: mark, there's also this. california is moving to phase out getting rid of gas fueled cars by 2035 in order to -- in favor rather of costly electric cars that cost more than the median u.s. household income. what does that mean for people that have to commute in people

drive a lot in california. they got to get that their jobs. what does this mean for them? >> first off, they're not stopping the airplanes, private airplanes of the hollywood elite. if they really cared about their ageneral darks that would be the first thing they do is go stop all these jet planes that are held by the left. unfortunately what they're going to do is the annual income of california compared to what the cost of an electric vehicle is, this is out of most californian's price book to buy an electric car. they're going to have to rip up freeways, put some dirt down and allow people to ride their horses to work again. that seems to be the policy of the left. let's protect our rich, elite, wealthy hollywood actors and actresses, allow them to jet all over the nation in their cars -- in their planes but then of course for the average american worker, we're not going to remember them. we're not going to take care of

them and we're going to make sure their lives are a living hell. liz: mean meanwhile they're the people paying for everybody's salary in elected office. to your point, this is what people are talking about on twitter. it's biden's legacy. it's a democrat's legacy. by the way, the associated press and new york times and nbc are dropping the name the inflation reduction act and calling it what it is, a climate spending bill. either you see all that's going on and this is by the way after a year of disastrous lockdowns that really hurt the little guy. right, the small businesses got slammed while the big box stores stayed out. notably in california, it was like 40,000 businesses were shut. what are you hearing? >> well, it has been atrocious. the gavin newsom picked the winners and the losers. he said if you're like a small flower shop, your store couldn't be open but could buy flowers at the grocery store. you couldn't buy your electronic

at the local store but at the big box store. you know, the most egregious example i think is what happened, you couldn't eat outdoors at a restaurant but 10 feet away hollywood actors could eat. this was the hypocrisy of the left that we saw. it hurt the financial wellbeing, the emotional wellbeing. it hurt the families of california and, you know, the independents here in california are waking up that the policies of the woke progressives is not the policy of their parents and their grant parent's democrat party and the woke progressive agenda hijacked the democrat party and many are waking up to the new opportunity they have and they have a choice. they do not have to vote gavin newsom in and do not have to vote democrat up and down the ticket. there is a real opportunity to make california more competitive again this year because the woke progressive agenda has left the average working family.

liz: you know, but you've been involved too in lawsuits against these shutdowns and lockdowns in california. we're seeing small businesses starting to win in court against what gavin newsom and democrats did. >> oh, yes. in the last week we've seen three california courts give major victories, the first was a church that overturned over $300,000 in sanctions because they refused to obey the order. another one dealt was a small business. the court basically said their claim against the government for damages because their business had to shut down while other businesses were allowed to operate. their case for damages is allowed to proceed. we also saw this week 10 horn flats, the city of burbank came in and turned off their power and put fences up around their building, and they are actually successfully -- their case is now moving forward against the government basically saying because they used their first amendment to express their

concerns about the shutdown, the government targeted them, selectively prosecuting them and the court said this week that that case gets to move forward so we are actually seeing some very good victories right now in the california courts to start reigning in the emergency powers of the governor and that they are not unlimited. we still live in the united states of america where we the people have a right of self-goself-govern noun nans ann unelected bureaucrats mandates there's more to the powers. liz: by the way, this was a summer of defund the police and the riots that killed 30 to 40 people and destroyed businesses. it was so terrifying for how -- with what ease and elac reignste government officials could switch the switch and shut down. final word. >> it was all over the place. i'm involved in a lawsuit where

gavin newsom shut down the state capitol from people protesting and the capitol opened up again as soon as black lives matter came on. it's complete hypocrisy going on. liz: thanks for joining us. i'm elizabeth macdonald. you've been watching "the evening edit" on fox business. thank you for watching and have a good weekend and join us again monday night. maria: happy weekend to all. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. thanks for joining us. growing outrage this weekend over joe biden's student loan ballout. republicans calling it a political stunt to buy votes ahead of the midterm elections. and even democrats speaking out against the handout that could cost up to $600 billion. senate finance committee mem