Full transcript of "Face the Nation with Margaret Brennan," May 3, 2026

Face The Nation Transcripts Full transcript of "Face the Nation with Margaret Brennan," May 3, 2026 .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-face-the-nation.jpg'); } May 4, 2026 / 9:31 AM EDT / CBS News Add CBS News on Google On this "Face the Nation with Margaret Brennan" broadcast, moderated by Margaret Brennan: White House Economic Council Director Kevin HassettMinneapolis Fed president and CEO Neel KashkariChevron CEO Mike WirthRep. Jason Crow, Democrat of ColoradoSen. Raphael Warnock, Democrat of GeorgiaClick here to browse full transcripts from 2026 of "Face the Nation with Margaret Brennan."   MARGARET BRENNAN: I'm Margaret Brennan in Washington.And this week on Face the Nation: Gas prices spike, as the standoff between the U.S. and Iran continues. And a Supreme Court decision weakening the Voting Rights Act sparks a scramble in some Southern states to get in on redistricting before the midterm elections.With his approval ratings on a downward trend, President Trump visited a Florida retirement community to conduct a survey of his own.(Begin VT)DONALD TRUMP (President of the United States): Let's do another poll. No tax on tips. (CHEERING)PRESIDENT DONALD TRUMP: No tax on overtime.(CHEERING)PRESIDENT DONALD TRUMP: No tax on Social Security. (CHEERING)PRESIDENT DONALD TRUMP: That's the one they like.(End VT)MARGARET BRENNAN: But with the conflict in Iran stalled, as well as the ships in the Strait of Hormuz, gas prices have skyrocketed, up 40 cents a gallon in the U.S. just in the last week. The president promises they will come down, and says, look on the bright side.(Begin VT)PRESIDENT DONALD TRUMP: The stock market is rocking and rolling. Your 401(k)s are at the highest they have ever been.(End VT) MARGARET BRENNAN: We will take a deep dive on the state of the economy with White House National Economic Council Director Kevin Hassett, the head of the Minneapolis Federal Reserve, Neel Kashkari, and the ch...