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Transcript: House Speaker Emerita Nancy Pelosi “Face the Nation with Margaret Brennan,” Jan. 5, 2025

The next is the total transcript of an interview with Home Speaker Emerita Nancy Pelosi on “Face the Nation with Margaret Brennan” that aired on Jan. 5, 2025.

MARGARET BRENNAN: And we’re joined by Speaker Emerita, Nancy Pelosi. It is so good to see you right here in particular person.

SPEAKER EMERITA NANCY PELOSI: My pleasure to be right here. Thanks a lot.

MARGARET BRENNAN: You realize, tomorrow morning on the Capitol you and different members of Congress can be there to certify the election win in 2024 of Donald Trump. There’s an unprecedented degree of safety, partly due to what occurred 4 years in the past with the violent assault by his supporters to vary the result of the final election. Why do you assume that so many members of the American public determined that was not disqualifying when it got here to reelecting him president?

SPEAKER EMERITA PELOSI: Effectively it- once more, thanks for the chance to speak about this as a result of the denial that they’d in regards to the election, which is what they have been performing upon, and the denial they’ve had since then about what occurred on Jan- January 6 is simply appalling. They wish to revise historical past. They usually just- they simply cannot. However I am so glad that they’ve elevated safety and I am hoping that this can be very peaceable because- the general public is aware of it. Now to your query, I believe- it is not, I- I would not say that the American individuals disregarded this. They only had a special view as to what was of their curiosity, economically and the remaining. So I do not- I do not name this a disregard of January 6. I simply name it one thing that they noticed of their curiosity economically.

MARGARET BRENNAN: Even simply final evening at Mar-a-Lago, Donald Trump was screening a documentary in regards to the 2020 election, claiming his win and attempting to speak in regards to the authorized challenges he had. There appears to be a continued effort to say that he received in 2020.

SPEAKER EMERITA PELOSI: It is actually unhappy. It actually is unhappy. And I do not know in regards to the movie that he had and the remaining, nevertheless it’s- it is nearly sick that he could be pondering that in 2020. He is received the election now, that can be clear- that can be clear, and tomorrow he can be clearly- we can be accepting the outcomes of the Electoral Faculty. So he needs to be triumphant about that. However to be nonetheless attempting to struggle a struggle that he- he is aware of he misplaced is- is actually unhappy.

MARGARET BRENNAN: You realize, the President-elect has mentioned that within the first 9 minutes of his new time period, he’ll pardon lots of those that participated in January 6. He mentioned he’ll have a look at it on a case-by-case foundation, however in wanting again at what occurred 4 years in the past, there are recordings, there’s video proof of what occurred. That is private for you, a few of these rioters in your workplace. chanting your identify. One among them, one of many defendants: “We have been searching for Nancy to shoot her within the friggin mind, however we did not discover her.” For you, that is private. So if you hear about pardons, do you assume the non-violent attackers should be pardoned?

SPEAKER EMERITA PELOSI: The non-violent- I believe that is a violent attacker, with the intent–

MARGARET BRENNAN: – the violence itself.

SPEAKER EMERITA PELOSI: Yeah–

MARGARET BRENNAN: –The violent language, you assume.

SPEAKER EMERITA PELOSI: The violent language- sure, the intention. And naturally, the intention to assault the Vice President of america. Now it did not finish that day. As you already know, he known as out to those individuals to proceed their violence, my husband being a sufferer of all of that, and it still- he nonetheless has accidents from that assault. So it simply goes on and on. It is not one thing that occurs after which it is over. No, as soon as you might be attacked, you’ve got penalties that proceed. So I do not- it is actually an odd one who’s going to be President of america, who thinks that it is okay to pardon people who find themselves engaged in an assault. However let’s- you already know, let’s do that. Let’s simply say okay to the American individuals. That is what that is about. Don’t be conned by the denial of the election of 2020 and- why would he be saying that? However he- however he’s. After which on prime of that, the denial of what occurred on January 6.

MARGARET BRENNAN: However a few of the 1600 defendants right here have been actually solely charged with trespassing. And if you have a look at the profiles, College of Chicago did a examine, half of those that broke into the Capitol have been white collar staff. They have been small enterprise homeowners. Did not essentially have a felony document. While you have a look at that profile, you mentioned intention. It- it was the intention itself, you assume, that must be thought-about extra so than the crime. You realize that- that it casts the crime itself of trespassing in a special gentle for you.

SPEAKER EMERITA PELOSI: Effectively the President mentioned he would go on a case-by-case foundation. So I assume that- that a few of these individuals could not have engaged within the violent actions that a few of the others did. Have a look at this lovely Capitol, the dome constructed by Lincoln. Underneath Lincoln’s management in the course of the Civil Struggle, they mentioned, do not construct the dome. It takes an excessive amount of metal and particular person energy, manpower, they mentioned, from the warfare effort. And he mentioned, no, I’ve to point out the resilience of America. After which beneath that dome you noticed, you noticed flags, the flags that, you already know, simply horrible flags beneath the dome of Lincoln. And so it was a tragedy, and we can’t be in denial about what it was. If the President goes to go on a case by case foundation, I hope he does, after which possibly–

MARGARET BRENNAN: –Trespassers, you’ll be snug with pardoning?

SPEAKER EMERITA PELOSI: Effectively, simply is determined by how they outline what that’s. However the- however I do know that a few of that encouragement after which the comply with up that- that so many individuals have been threatened, together with me and- and to my house, searching for me and discovering my husband, and as I say, who nonetheless suffers from head accidents from- on that day. So these items do not simply occur and go away when you’ve got a head damage. However anyway to- to- to see the menace to so many individuals in elective workplace, now going past me, however so many individuals in elective workplace, it should not be a menace to your loved ones that you’ve chosen to do public service.

MARGARET BRENNAN: You wrote in your e-book about that 2022 assault in your husband, and also you mentioned your daughter advised you [if] she had recognized what you have been signing up for, she would by no means have given you her blessing to run for workplace within the first place. Do you assume that this menace of home violent extremism is having a chilling impact on new expertise and- and anybody operating for workplace?

SPEAKER EMERITA PELOSI: Effectively, I actually hope not. However over time, after I was encouraging individuals to run for workplace, particularly girls, they might say, we might by no means take the abuse that you just take, and that was actually simply abuse. It wasn’t bodily, it was criticism and the remainder of that, and that we do not need our youngsters subjected to that. And sure, I do assume it can have a destructive influence on individuals operating for public workplace. Simply- you already know, in different phrases, in the event you’re- in the event you’re a mother, they usually go after you as a- as a mother, and your youngster comes house crying from college as a result of any person mentioned a destructive factor, as a result of they noticed it on TV, that the opposite aspect mentioned one thing dangerous about you, you may not run for workplace.

MARGARET BRENNAN: So that you assume it can discourage significantly girls—

NANCY PELOSI: Notably girls.

MARGARET BRENNAN: —from operating?

SPEAKER EMERITA PELOSI: Yeah, I do. I imply, I do know that it has. However I hope that it’s going to not, that we’ll have shine a brilliant gentle on this and simply say, that is unacceptable. That is unacceptable. See, for girls, they always- they always- girls are recognized to be extra, let’s say, moral, than males. And so after they go after girls candidates, they go after their ethics. They usually’ll say this, that and the opposite factor. After which the kid comes house from college crying as a result of any person mentioned a nasty factor about mother on TV. And no-one- no one desires that. So hopefully the intense gentle shining on that can reduce- cut back that. However I believe that girls have confirmed that they are- are extra moral, and that they- they’re, nicely, possibly they are not extra moral, they’re all moral, however that they can- then stand up to that criticism.

MARGARET BRENNAN: Effectively, you- in the course of the first Trump presidency, as speaker, you took very public stance to problem Donald Trump when he was president. Democrats now are within the minority on this new congress. Tom Suozzi from New York not too long ago mentioned, it might be a mistake for Democrats to reflexively oppose Trump’s concepts and model themselves a “nationwide resistance motion.” This can be a Democrat who received in a Trump district, and he is warning fellow Democrats. Do you agree resistance is a nasty technique this time?

SPEAKER EMERITA PELOSI: Effectively I- let me simply say, traditionally, after I grew to become speaker, it was after I ran with a Republican president, George Bush, and we opposed his insurance policies. He needed to denationalise Social Safety. And so we went in opposition to that, and we received. After which after I received once more as speaker, George- Donald Trump was president, and we ran in opposition to him by saying, we’ll save the Inexpensive Care Act. That is- that is it. We have been saving Social Safety at first. Now we’re saving the Inexpensive Care Act. So we received the bulk, sure, by disagreeing on sure factors. That does not imply you disagree on each difficulty, no. But it surely does imply that you just defend the values that carry you to Congress, the imaginative and prescient that you’ve about well being care, the values that you’ve about well being care, once more, as a result of well being care is a matter that’s so essential as a result of well being care value are so excessive that- that it impacts whether or not you possibly can have housing, whether or not you possibly can have meals on the desk, and the remaining. And so—

MARGARET BRENNAN: So you’ll encourage Democrats to work with Donald Trump on a problem like well being care?

SPEAKER EMERITA PELOSI: I do not know that he desires to be on well being care.

MARGARET BRENNAN: Are there alternatives to work with him on something?

SPEAKER EMERITA PELOSI: No- on different points. No. On well being care, no. However no, simply be- nicely, we both- with George Bush on many points, and- a number of points, let me say, and no, I do not- I do not say that we should always work with him on well being care. I am saying we’re on the market to guard the Inexpensive Care Act. He mentioned, Obamacare sucks. Now that is not one thing we wish to work with, that Obamacare sucks. So we wish to be on the market to save lots of the Inexpensive Care Act, and acknowledge that lowering the price of well being care can allow individuals to have housing, have meals on the desk and the remaining. And that is- there are research that present the connection between means to have housing and meals when you’ve got good, reasonably priced care, well being care.

MARGARET BRENNAN: Speaker Emerita, thanks to your time at present.

SPEAKER EMERITA PELOSI: Thanks. My pleasure to be with you. Thanks.

MARGARET BRENNAN: And we’ll be proper again with much more “Face the Nation.” Stick with us.

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Stocks Extend Gains as Investors Weigh Fed Rates and Tariff Talk

Shares rose on Thursday, extending a two-day rally as traders hope for an easing of President Trump’s commerce wars and weigh feedback on its affect from a Federal Reserve official.

The S&P 500 gained greater than 1 p.c after stalling in early buying and selling. The index has seesawed this week: Monday noticed a pointy sell-off, adopted by two days of sizable gains after Mr. Trump on Tuesday stated that he was ready to be “very nice” in commerce negotiations with China.

The rally then paused after officers in China stated they weren’t holding talks with the USA about easing commerce tensions. However indexes continued to swing on scraps of details about tariffs and financial coverage, within the absence of concrete developments in regards to the escalating international commerce warfare.

On Thursday, Christopher Waller, a Fed governor, advised Bloomberg that the financial hit from Mr. Trump’s tariffs will take time to indicate up within the knowledge, suggesting that the central financial institution is just not poised to decrease rates of interest quickly. However when requested what would immediate him to favor a fee reduce, Mr. Waller stated, “If I noticed sufficient motion within the unemployment fee to make me assume that issues have been going unhealthy, or progress prospects began tanking, or shopper spending began actually taking place, then I’d be able to go.”

He Yadong, a spokesman for China’s Ministry of Commerce, stated on Thursday that, “There are at the moment no financial and commerce negotiations between China and the USA, and any claims about progress in China-U.S. financial and commerce negotiations are baseless rumors with out factual proof.”

A spokesman for China’s Ministry of International Affairs, Guo Jiakun, reiterated China’s stance, which is that the tariff warfare was began by the USA and that China would solely have interaction in talks beneath sure circumstances. “China’s angle is constant and clear: If you wish to battle, we are going to battle to the top; if you wish to speak, the door is open,” he stated.

The day earlier than, Treasury Secretary Scott Bessent dismissed hypothesis that Mr. Trump was contemplating unilaterally reducing tariffs on China and emphasised that any strikes to de-escalate commerce tensions would have to be mutual. “I don’t assume both aspect believes that the present tariff ranges are sustainable,” he stated.

In different developments on Thursday:

Large corporations reporting their newest earnings warned that tariffs and financial uncertainty would dent earnings within the months forward. PepsiCo and Merck reduce their earnings forecasts, whereas American Airways withdrew its earlier forecast for the remainder of the 12 months, till “the financial outlook turns into clearer.”
An increase in main know-how shares boosted the tech-heavy Nasdaq Composite index, which was roughly 2 p.c larger. Shares in Amazon have been up greater than 2 p.c, as have been shares within the chip large Nvidia.
The U.S. greenback fell in opposition to a number of main currencies, together with the euro, the British pound and the Japanese yen.
The yield on 10-year Treasury bonds, which transfer inversely to costs, fell to 4.32 p.c.
Oil futures recovered some floor, with Brent crude up almost 1 p.c, approaching $67 a barrel.
Shares in Asia and Europe have been blended: Japan’s predominant index was up, Hong Kong and South Korea have been down, and markets in Britain, France and Germany have been roughly flat.

Colby Smith and Danielle Kaye contributed reporting and Siyi Zhao contributed analysis.

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China says there are no negotiations with the Trump administration over tariffs

China on Thursday denied U.S. President Donald Trump’s assertion that the 2 sides had been concerned in energetic negotiations over tariffs, and stated the U.S. ought to revoke its unilateral tariffs in opposition to the nation.

China’s pushback on tariffs, with U.S. import duties now standing as excessive as 145% on China-made merchandise, comes after Mr. Trump stated Tuesday that the ultimate tariff charge on China’s items would come down “considerably.” However Beijing on Thursday stated that any suggestion of progress on this matter was as groundless as “making an attempt to catch the wind.”

The commerce battle between China and the U.S. has escalated through the previous few weeks, with every nation mountaineering its import duties a number of instances in a tit-for-tat. However the Trump administration this week has supplied some indicators that they’re thinking about a commerce pact, with Treasury Secretary Scott Bessent on Wednesday saying the Trump administration has an “alternative for an enormous deal” on commerce between the U.S. and China.

And Mr. Trump had instructed reporters earlier within the week that “every little thing’s energetic” when requested if he was participating with China, though Bessent had stated there have been no formal negotiations.

“China’s place is constant and we’re open to consultations and dialogues, however any type of consultations and negotiations should be performed on the idea of mutual respect and in an equal method,” stated Ministry of Commerce spokesman He Yadong. “Any claims in regards to the progress of China-U.S. commerce negotiations are groundless as making an attempt to catch the wind and haven’t any factual foundation.”

Trump had put 145% tariffs on imports from China, whereas China hit again with 125% tariffs on U.S. merchandise. Whereas Trump has given different nations a 90-day pause on the tariffs, as their leaders pledged to barter with the U.S., China remained the exception.

Trump says he’ll reduce tariffs against China “substantially”

03:37

As a substitute, Beijing raised its personal tariffs and deployed different financial measures in response whereas vowing to “struggle to the tip.” For instance, China restricted exports of uncommon earth minerals and raised a number of instances in opposition to the U.S. on the World Commerce Group.

China additionally made it clear that talks ought to contain the cancellation of all tariffs it at present faces.

“The unilateral tariff improve measures had been initiated by the USA. If the USA actually desires to unravel the issue, it ought to withstand the rational voices of the worldwide neighborhood and all events at dwelling, utterly cancel all unilateral tariff measures in opposition to China, and discover methods to resolve variations by means of equal dialogue,” stated He, the spokesman.

Regardless of the financial measures leveled in opposition to China, Trump stated Tuesday that he can be “very good” and never play hardball with Chinese language President Xi Jinping.

“We will dwell collectively very fortunately and ideally work collectively,” Trump stated.

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Fight intensifies over bill by former Edison executive to gut rooftop solar credits

urlhttps3A2F2Fcalifornia times brightspot.s3.amazonaws.com2F5b2F402F5406caf5416dbaaa1fdb9420

A invoice to sharply cut back the power credit given to householders with rooftop photo voltaic panels is pitting union electrical employees and the state’s massive utilities towards individuals who profit from the photo voltaic credit — and one of many first skirmishes happened within the Metropolis of Business on Wednesday.

Waving indicators and blowing whistles, dozens of rooftop photo voltaic house owners protested outdoors the workplace of Assemblymember Lisa Calderon (D-Whittier), who proposed Meeting Invoice 942 to slash the credits for individuals who put in the techniques earlier than April 15, 2023.

Jim Matthews, one of many rooftop photo voltaic house owners on the protest, stated he doubts he would have bought the panels if he would have identified the state can be reversing the incentives.

“Stuff like this tears my coronary heart,” stated Matthews, who lives in Hawthorne. “I believe it’s scandalous.”

Calderon labored for Southern California Edison and its guardian firm, Edison Worldwide, for 25 years earlier than she was elected in 2020. Her final place included managing the guardian firm’s political motion committee.

Edison and the state’s two different massive for-profit utilities have long tried to reduce the power credit that incentivized Californians to put money into the photo voltaic panels. The rooftop techniques have lowered the utilities’ gross sales of electrical energy.

“Calderon: For the Individuals or for Edison?” stated one signal waved by protesters outdoors Calderon’s workplace within the Metropolis of Business. “Cease SCE’s Revolving Door in Sacramento,” stated one other.

Two people on a roof and two below move a black panel.

Calderon advised the Occasions she launched the invoice as a result of she had realized that 97% of the individuals in her district had been paying greater electrical payments due to the photo voltaic credit going to the remaining 3% once they despatched the unused electrical energy from their photo voltaic panels to the grid.

“From an fairness standpoint, that’s not truthful,” she stated. “I’d love for everybody to have photo voltaic, however we have to do it in a good and equitable means.”

Calderon stated Edison, Pacific Fuel & Electrical and San Diego Fuel & Electrical have all despatched her letters supporting the invoice.

AB 942 would restrict the power credit offered to those that bought the techniques to 10 years — half the 20-year interval the state had advised rooftop house owners they’d obtain. It could additionally finish the incentives if the home was offered.

Uniting within the effort to oppose the invoice are dozens of environmental teams, together with the Sierra Membership and the Environmental Working Group, which level out that the state has lengthy stated the photo voltaic contracts would final for 20 years.

Additionally attending the protest had been representatives from the California Photo voltaic & Storage Assn., a commerce group that represents corporations promoting the rooftop photo voltaic techniques. The protest was organized by the Solar Rights Alliance, a statewide affiliation of photo voltaic customers.

Jeff Monford, a spokesperson for Edison, stated the corporate despatched Calderon a letter Wednesday backing the invoice. He stated the invoice has “nothing to do with utility earnings. It would lead to financial savings for our prospects.”

The corporate estimates that these prospects who don’t have photo voltaic would save $500 million by 2030 if AB 942 handed, or about 3% of the typical family electrical invoice.

The unions {of electrical} employees who set up and restore tools constructed by Edison and different electrical corporations are lobbying to get the invoice handed.

In an electronic mail, a spokesperson for the California State Assn. of Electrical Employees stated the group “strongly helps” the invoice, which it stated would “alleviate the monetary burden on non-solar ratepayers.”

At a gathering in Sacramento in late March, leaders of the group, which represents 83,000 electrical employees within the state, said a top goal was to reform the rooftop photo voltaic incentives.

“It’s unjust, unreasonable and unsustainable for Californians to proceed shoveling billions of {dollars} yearly to an business when it’s not justified nor truthful to non-solar prospects, notably when the burden falls hardest on low-income prospects,” Scott Wetch, a lobbyist for {the electrical} employees, wrote in a letter to the chair of the Meeting Utilities and Power Committee.

Calderon and {the electrical} employees level to an analysis by the state Public Utilities Fee’s public advocates workplace that stated the credit given to rooftop house owners for the electrical energy they ship to the grid is elevating the electrical payments of consumers who don’t personal the panels by $8.5 billion a yr.

The rooftop photo voltaic business and environmental teams disagree with that evaluation, saying it was flawed.

In a current letter to the Meeting committee, the environmental teams pointed to an evaluation that economist Richard McCann carried out for the rooftop photo voltaic business that discovered that electrical charges had risen because the utilities spent extra on infrastructure. That tools consists of the transmission strains wanted to attach industrial-scale photo voltaic farms to the grid.

Although householders’ photo voltaic panels helped hold demand for electrical energy flat for 20 years, the three utilities’ spending on transmission and distribution infrastructure had risen by 300%, McCann discovered.

“To deal with rising charges, California should deal with what’s actually unsuitable with our power system: uncontrolled utility spending and report utility earnings,” the environmental teams wrote.

In December 2022, the fee voted to chop incentives for anybody putting in the panels after April 15, 2023, by 75% however left the incentives in place for legacy prospects.

AB 942 wouldn’t apply to rooftop photo voltaic prospects who dwell in territory served by the state’s municipal utilities, together with the Los Angeles Division of Water and Energy.

A listening to on the invoice is scheduled for April 30.