
US Rep. Frank Mrvan vows to fight Trump's ‘authoritarian approach,' GOP's ‘cruel' spending cuts
'I, as a member of Congress, will continue to fight for things that unify us,' Mrvan told a largely friendly crowd of about 150 at the Memorial Opera House in downtown Valparaiso at a town hall meeting that had been postponed due to illness.
The 'community conversation,' as Mrvan's office called it, was one of several held throughout the region Thursday.
'The authoritarian approach will be stopped by the courts, and I believe as time goes by, no one wants to be patient,' he said. The House Oversight Committee will hold people accountable, he predicted.
Mrvan spoke at length about what he sees as the ugly side of what Trump refers to as the 'Big Beautiful Bill,' a reconciliation act passed by the House on partisan lines that now faces the Senate.
Mrvan got loud applause when he told the audience he voted against the bill.
'It's cruel and it doesn't pare down the deficit,' he said.
'They are cutting $880 billion out of Medicaid,' Mrvan said. That affects about 227,000 people in his district, about 19,000 children, about 18,000 disabled individuals and 23,000 veterans, he said.
Mrvan had spoken to an East Chicago High School senior, Jake, who asked Mrvan to use him as an example.
Jake, who uses a wheelchair, is being raised by a single mom after his dad died. 'There is a perfect storm affecting Jake,' Mrvan said. He's at risk of losing healthcare access. 'He is absolutely positively a candidate to lose his Medicaid waiver through the state of Indiana,' along with his Social Security disability funding.
The objective of the reconciliation bill is tax breaks for the top 1% of the nation's wealthy and for corporations.
'I am a straightforward legislator. I will tell you exactly what I think,' Mrvan said.
This bill was advocated by people who talked about the deficit and how it's crushing people and the economy. Even as it kicks 14.9 million people out of Medicaid coverage, however, it adds $5 trillion to the deficit, according to the nonpartisan Congressional Budget Office.
'I want to make sure we can have a balanced budget,' Mrvan said, 'without being cruel to individuals.'
As details of the bill emerge, Mrvan said, people are learning it gives tax breaks to owners of professional sports teams and people who own tanning beds. It also wouldn't allow federal courts to hold contempt of court hearings to hold Trump administration officials accountable for defying the courts, and injunctions would be lifted.
Mrvan said he is working to restore the balance of power in Washington, with three coequal branches of government – legislative, judicial and executive – and put checks and balances back in place.
'I'm in the minority, but I'm on bills to stop his authority,' Mrvan said of Trump.
Mrvan fielded many questions from the audience. Among them was his stance on the Trump administration's actions regarding higher education.
The Department of Government Efficiency cut funding for Indiana University's research on Alzheimer's disease research. IU is a leading institution globally for that research.
'There's a return on investment that leads to about $1 billion. It also creates innovation,' he said. 'Pharmaceutical companies from this research are able to create medications that slow the progress of Alzheimer's, which is going on right here in Indiana.'
'If you're not investing in that research, if you're freezing funding for that, if you're not creating medications that slow down the progress, not only do you have more individuals that have to be taken care of – Medicaid – but you have less individuals in the workforce as other individuals are taking care of them, all because of this uncertainty that's going on,' he said.
Free speech is also an issue with the funding cuts for higher education, he said. 'Punishing institutions, organizations, groups because you don't think or say the way I think or say is very dangerous ground to be on,' he said.
Cancer research impacts all of us, he said. One of his proposed amendments to the reconciliation bill was to study the impact on people who were no longer on Medicaid but have cancer. Americans appreciate longevity, 'and cancer is something that robs lives,' he said.
'We lead the world in research,' he said, and bring top researchers from around the world to do this research. 'We want to continue to lead the world and do this research in the United States.'
Mrvan was asked about the hydrogen hub for Northwest Indiana, an environmental issue. 'This creates cleaner air, cleaner water for our area. It allows the steel industry to produce more globally competitive clean steel, and it also adds jobs and wealth to our community,' he said.
The GOP reconciliation bill would make tax credits for the companies that work on this project expire at the end of this year.
'We have to keep fighting for that. It's going before the Senate. We'll have to see what happens,' Mrvan said.
He spoke of bringing federal funding to local communities, including license plate readers for the Porter County sheriff's office. 'Sewers aren't sexy, but it adds to capacity. It adds to the quality of life here locally,' he said.
Protecting Northwest Indiana's economic engines is also important, he said.
'We produce more steel than any other region in the nation,' he noted, so he wants tariffs in place against countries that subsidize steel and illegally dump steel in the United States. China pays energy costs for steel production, which is one form of subsidizing the industry there, he said.
However, he doesn't favor Trump's approach to widespread tariffs. 'I have a nuanced approach,' Mrvan said.
This week, the International Trade Court gave authority back to Congress over tariffs, he said. 'Again, a checks and balances system.'
'We must protect our industries, our vital national security industries,' he said. American-made steel is needed for tanks, planes and other weapons of war.
'You can't go to a tariff war with our enemies and our allies,' he said.
'As I go back to Congress, I will be a stronger voice' because of hearing these questions and comments, Mrvan said. He urged audience members to continue to reach out to him but also to Sens. Todd Young and Jim Banks.
They need to hear what their constituents are concerned about and how their lives are being affected by what's going on nationally, Mrvan said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Analysis-Struggling US healthcare stocks endure rough 2025 but draw some bargain hunters
By Lewis Krauskopf NEW YORK (Reuters) -Woes for U.S. healthcare stocks have worsened this year driven partly by Trump administration policies, although some investors are betting that the beaten-down shares are now becoming too much of a bargain to pass up. The S&P 500 healthcare sector -- which includes pharmaceutical companies, biotechs, health insurers and medical equipment makers -- has slumped 5% in 2025, lagging the over 7% gain for the overall index. Pressure to bring down U.S. prescription drug prices to overseas rates, tariffs targeted at pharmaceuticals and cuts to areas such as health research funding and Medicaid are among the Trump administration actions clouding the outlook for the shares this year, investors said. Regulatory obstacles are compounding issues, including expiring drug patents and setbacks for bellwethers including UnitedHealth Group. "You have got this constant overarching political and regulatory overhang that doesn't really seem to subside with any administration," said Jared Holz, healthcare sector strategist at Mizuho Securities. "When you have so much nebulousness around the sector, it turns people off rather than invites them to the party." In another sign of the group losing favor, healthcare exchange-traded-funds have seen 12 consecutive months of net outflows as of July for a total outflow of $11.5 billion in that time, more than for any other sector, according to State Street Investment Management. The performance picture is even dimmer over a longer period. While shares of massive technology companies pushed the benchmark S&P 500 up over 50% the past three years, the healthcare sector is little changed in that time. That gap has put the 60-stock sector at nearly its biggest discount to the broader market in 30 years, which some investors hope is an inflection point for the battered group. "The valuation is extremely cheap and the relative performance is at an extreme," said Walter Todd, chief investment officer at Greenwood Capital, whose healthcare holdings include diversified giant Johnson & Johnson and medical device maker Stryker. "So at this point, it seems like a pretty decent setup to get some outperformance." The price-to-earnings ratio for the healthcare sector, based on earnings estimates for the next year, has fallen to 16.2 times from nearly 20 a year ago, according to LSEG Datastream. Meanwhile, the S&P 500's rally to records has driven the index's P/E ratio to over 22 times -- giving the broader market a significant premium over the healthcare sector. 'BAD NEWS IS PRICED IN' Some high-profile healthcare names are at even cheaper valuations. For example, Merck is trading at a forward P/E of 8.7, against its long-term average of 14.5, while fellow drugmaker Bristol Myers Squibb trades at 7.4 against its average of 15.8, according to LSEG. Year-to-date, shares of both Merck and Bristol Myers are down roughly 20%. The group is drawing bets from some value investors such as Patrick Kaser, portfolio manager at Brandywine Global, whose portfolio is overweight the sector including owning shares of CVS Health and European drugmakers GSK and Sanofi. "Our perspective is a lot of this bad news is priced in and then some," Kaser said. "To bet against the sector from here, you're essentially continuing to bet on the valuation gap, which is already large, continuing to widen." The group's decline means the total market value of the S&P 500 healthcare sector is about $4.8 trillion, not much higher than the $4.3 trillion value of Nvidia, the semiconductor company that has symbolized the artificial intelligence boom. Indeed, some investors said a shift in capital away from Nvidia and other massive tech companies could spark healthcare shares. Such a move appeared to occur in the first quarter, investors said, when the healthcare sector rose 6% while declines in tech and megacap stocks dragged indexes lower. Fears of an economic downturn also could help healthcare shares, at least on a relative basis. The group is often viewed as a defensive area in rockier economic times. Economic fears flared following last Friday's weaker-than-expected employment report, while some strategists say the market could be due for a pullback after surging over 20% since its April lows. "During the first quarter, healthcare did great even as tech rolled over, as the fears of an economic slowdown got to more economically sensitive stocks," said Chris Grisanti, chief market strategist at MAI Capital Management, adding he expects healthcare "will perform better in a more difficult market." More clarity on regulatory issues, including tariffs, also could support healthcare, investors said. But some value investors are hesitant to dive into the group. Michael Mullaney, director of global markets research at Boston Partners, said he is wary some healthcare shares could be "value traps," preferring to overweight areas including industrials or financials. "There's been just so much of an overhang in the sector," Mullaney said. "There are better places to go with cleaner stories." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


San Francisco Chronicle
26 minutes ago
- San Francisco Chronicle
Independent candidate for Michigan governor is betting on partisan fatigue in the midterms
DETROIT (AP) — Detroit Mayor Mike Duggan spent his political career as a Democrat, leading Michigan's largest Democratic stronghold. But now, he's become a target of his former party, whose leaders are furious about his decision to run for Michigan governor next year as an independent. Detroit is a power base for Democrats in the battleground state, and some fear Duggan will draw support from their nominee and potentially help the Republican candidate. Democrats have launched attacks against Duggan, accusing him of being bankrolled by allies of President Donald Trump. But Duggan — who is soon leaving the office he has held since 2014 — says voters of all leanings are tired of partisan fighting. 'It doesn't actually matter where I go in the state,' Duggan said. 'People are angry that their problems are not getting solved because the two parties are so consumed with fighting with each other.' Duggan had been a major Democratic figure in Michigan with a close working relationship with former President Joe Biden. While there is precedent for independent governors in the U.S., none are currently in office and there has never been one in Michigan. Why run as an independent? He announced his bid a month after Democrats suffered heavy losses in the 2024 election. But, midterm elections tend to favor the party not in power. Democrats have now seized on cuts to Medicaid and SNAP benefits as winning issues in races across the country. Duggan doesn't see it that way. 'I mean, it would have been easier to win as a Democrat, but then I'd have just been part of the partisan problem,' Duggan said. As an example, Duggan pointed to Michigan's split Legislature, with Republicans in control of the state House and Democrats controlling the state Senate. Only six proposals have become law this year, and the state operating budget is still hung up. Duggan's campaign has focused on his independency from both parties and education in the state. Duggan derided Michigan House Democrats who voted against a measure to restrict cellphone usage in schools. 'I don't really intend to get involved in the national Republican versus Democratic talking points,' he said. Tariffs in Detroit, and abroad Several companies in Michigan's auto industry, centered in Detroit, have reported major losses and expressed worry about tariffs imposed by the Trump administration. Auto parts often move across the border between the U.S. and Canada multiple times during manufacturing. Duggan said tariffs on China and Mexico could push manufacturing to Michigan. However, tariffs on Canada are 'devastating,' he said. 'When you put a tariff on Canada, you put a tariff on Michigan,' he said. He also critiqued the ever-changing nature of Trump's tariff policies, saying they prevent companies from making educated, long-term investments. President Trump Duggan praised current Democratic Gov. Gretchen Whitmer for her work with the Trump administration, opposing the tariffs on Canada and working with him to get new fighter jets for an air force base. Some Democrats have criticized Whitmer for appearing with Trump multiple times this year. 'I think it's exactly the right kind of approach,' he said. Elon Musk Democrats in Michigan have frequently tied Duggan to Elon Musk; an attempt to undercut Duggan by association with the divisive public figure. Musk, a former Trump ally, said in July that he would create a third political party. When Duggan responded to Musk on X saying 'Now you've got my attention,' the Michigan Democratic Party said the mayor was 'cozying' up to the richest man in the world. When asked about exchange, Duggan said his bid is 'exactly the opposite' of a third party and said he wants no part of one. As an independent, he would not be responsible for any party majority, he said. 'I'm going to work with whoever wins to build bridges,' he said. Arab American voters Michigan is home to one of the largest populations of Arab American voters in the U.S., many of whom are disillusioned with both political parties over Israel's military offensive in Gaza which has resulted in a devastating humanitarian crisis. 'The governor doesn't make policy 6,000 miles away,' Duggan said. 'The governor has a great deal to say about the tone of hate speech and threats to individuals — whether it's the Jewish community, the Arab community — in the state of Michigan.' Who else is in the race? Whitmer is term-limited and cannot run for reelection. The crowded field vying to replace her includes three Democrats — Secretary of State Jocelyn Benson, Lt. Gov. Garlin Gilchrist II and Genesee County Sheriff Chris Swanson — and four Republicans — U.S. Rep. John James, state Senate Leader Aric Nesbitt, former state Attorney General Mike Cox and former Speaker of the state House Tom Leonard. Running as an independent allowed Duggan to avoid the Democratic primary, but he gave up access to the party's resources. He's well-known in Detroit and the surrounding areas but largely lacks statewide name recognition. Recent fundraising numbers showed Duggan was competitive with Benson, James and Nesbitt. Only Benson's campaign raised more than Duggan's, thanks to $1.1 million she transferred from her Secretary of State campaign account. National Democratic groups, though, are certain to prioritize the Michigan race and pour money in if needed. 'A lot of people in the state are fed up with a two party system,' Duggan said. 'And it's not going to change by electing another Republican or Democrat.'

USA Today
26 minutes ago
- USA Today
US stock futures higher as Trump threatens semiconductor tax
U.S. stock futures are higher after President Donald Trump said semiconductors would face a 100% tax unless the companies "are building in the United States." The carveout was a relief for companies like Apple that invest in the United States. Apple just said it plans to spend an additional $100 billion on U.S. companies and suppliers over the next four years, in addition a $500 billion investment announced in February. Taiwan said TSMC is exempted from the tax, and South Korea said chips from Samsung Electronics and SK Hynix won't be subject to the 100% tariff either. The comments come on the heels of an earlier announcement of an additional 25% tax on India to bring the total levy to 50%. Trump said the additional tariff is because India continues to buy Russian oil. Other countries are racing to strike a deal with Trump with the Aug 7 deadline here. Nations without a deal face new tariffs. At 6 a.m., futures tied to the blue-chip Dow rose 0.48%, while broad S&P 500 futures added 0.69% and tech-heavy Nasdaq futures gained 0.70%. Investors are also eyeing corporate earnings, which have been mostly positive. About 80% of reports are beating analysts' earnings expectations, above the 76% average of the last four quarters, according to data provider LSEG. Data also showed earnings growth for the quarter is estimated at 12.1%, up from 5.8% at the beginning of July. Corporate news Cryptocurrency Actelis Networks said its board approved a cryptocurrency treasury strategy to help it diversify its balance sheet. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.