In the first episode after CBS announced it would be canceling The Late Show, Stephen Colbert welcomed Sen. Adam Schiff to the program to make the nonsensical claim that Congress passing President Trump’s rescission package, which included cuts to PBS and NPR, showed how Congress is ceding its spending powers to the executive. Additionally, both men would have positive things to say about the rise of the socialist wing of the Democratic Party.
Colbert wondered, “So, last night the Senate passed something called a rescission bill. I’ve never heard of a rescission bill. It sounds like a court-ordered appendectomy. Can you explain what is a rescission bill? What does this do to Congress?”
After decrying the Big Beautiful Bill, Schiff claimed, “This rescission bill is a little ugly bill. It’s like a mini reconciliation bill. It, like the reconciliation bill, only requires 50 votes and the VP and they can cut further. So in this bill that we voted on until about 3:00 in the morning last night, they cut funding for AIDS and tuberculosis and malaria and public broadcasting, and NPR.”
Colbert asked, “Would Congress take back what they had already passed? Why are they doing this? Especially things like that?”
The correct answer would’ve been that when Congress passes massive spending bills, not everyone who votes for it agrees with every last detail, so rescission allowed them to extract specific provisions they think shouldn’t have been included.
Instead, Schiff reduced it to, “Donald Trump has made the Republicans afraid.”
Colbert then declared, “But people get into office, I mean, I don’t know your motivations, I’m sure they’re very pure, but some people just like the allure of power, and it seems like Congress is giving its power away to Donald Trump, that they’re reducing their coequal status.”
Schiff agreed, “Congress is absolutely giving its power away, and in this case, really the most important power we have, which is the power of the person. At the end of the day, what power does Congress have to stop a rogue executive but to defund them?”
The opposite is true. The rescission package is an acknowledgement by the executive that they could not cut this spending without Congress’s approval.
Earlier in the interview, Colbert summarized the socialist argument as simply wanting people to be able to eat, “They’re saying that there’s already a message the Democrats have, and it’s the FDR message, it’s the LBJ message, it’s caring for the farmers, caring for people who are marginalized, it’s caring—it’s making sure people can eat and people can get good jobs. Where did that message go?”
Schiff played along, “Well, I think that’s absolutely right. I think our democracy is in trouble in significant part because the economy is not working for millions of Americans, and it’s not that Americans aren’t working. they are working harder than ever. The problem is they are working, and they still struggle to get by, more than their parents struggle to get by, and I think when that’s the case, all too many people are open to any despot who comes along promising they alone can fix it.”
After the show, Schiff tweeted, “Just finished taping with Stephen Colbert who announced his show was cancelled. If Paramount and CBS ended the Late Show for political reasons, the public deserves to know. And deserves better.”
Many people on the left think Paramount settling with President Trump in his 60 Minutes lawsuit represents the company trying to get on Trump’s good side so his administration approves their merger with Skydance. As part of this theory, the anti-Trump Colbert had to go to further appease Trump.
However, there is no evidence for this. All of the recent turmoil in the late night industry has been at Paramount-owned properties. The Daily Show has not had a permanent host since 2022, which has allowed it to save money. When James Corden quit and CBS cancelled The Late Late Show, it replaced it with the cheaper After Midnight. When host Taylor Tomlinson quit this year, CBS decided to cancel the show altogether and not replace it with any original programming. Likewise, CBS isn’t firing Colbert. It’s simply refusing to renew his contract, and as Colbert himself admitted in his cold open, the whole show is going away, not just him.
Here is a transcript for the July 17-taped show:
CBS The Late Show
7/18/2025
12:05 AM ET
STEPHEN COLBERT: They’re saying that there’s already a message the Democrats have, and it’s the FDR message, it’s the LBJ message, it’s caring for the farmers, caring for people who are marginalized, it’s caring—it’s making sure people can eat and people can get good jobs. Where did that message go?
ADAM SCHIFF: Well, I think that’s absolutely right. I think our democracy is in trouble in significant part because the economy is not working for millions of Americans and it’s not that Americans aren’t working. They are working harder than ever. The problem is they are working, and they still struggle to get by, more than their parents struggle to get by, and I think when that’s the case, all too many people are open to any despot who comes along promising they alone can fix it.
…
COLBERT: So, last night the Senate passed something called a rescission bill. I’ve never heard of a rescission bill. It sounds like a court-ordered appendectomy. Can you explain what is a rescission bill? What does this do to Congress?
SCHIFF: Yeah, well, first there’s the Big Ugly Bill which was another term that probably many people hadn’t heard of called reconciliation where they massively cut health care, and they cut food for hungry kids, to fund a tax cut for rich people, but not content with that and the harms that’s going to cause, they decided they want a lot of little ugly bills. And this rescission bill is a little ugly bill. It’s like a mini reconciliation bill. It, like the reconciliation bill, only requires 50 votes and the VP and they can cut further. So in this bill that we voted on until about 3:00 in the morning last night, they cut funding for AIDS and tuberculosis and malaria and public broadcasting, and NPR.
COLBERT: And was this money that had already been allocated?
SCHIFF: It’s money that had already been allocated.
COLBERT: How—why would Congress take back what they had already passed? Why are they doing this? Especially things like that?
SCHIFF: Because Donald Trump has made the Republicans afraid.
COLBERT: But people get into office, I mean, I don’t know your motivations, I’m sure they’re very pure, but some people just like the allure of power, and it seems like Congress is giving its power away to Donald Trump, that they’re reducing their coequal status.
SCHIFF: Congress is absolutely giving its power away and in this case, really the most important power we have, which is the power of the person. At the end of the day, what power does Congress have to stop a rogue executive but to defund them?
