Trump uses antisemitic slur in remarks promoting his 'big, beautiful bill'

Speaking at the Iowa State Fairgrounds, the president used the word "Shylocks" when talking about bankers lending money to family farms.

President Donald Trump used an antisemitic slur to describe exploitative bankers during a speech Thursday as he touted congressional passage of his massive domestic policy bill.

Trump made the remark in Des Moines, Iowa, at what was billed as an event by a nonpartisan group to kick off celebrations for next year's 250th anniversary of the Declaration of Independence. But Trump's campaign-style speech quickly took on a partisan tone, with the president expressing "hate" for the Democrats who voted against his "big, beautiful bill."

While ticking through the bill's provisions, Trump described one aimed at protecting family farmers by allowing them to pay a reduced estate tax when transferring ownership to their children.

"No death tax, no estate tax, no going to the banks and borrowing from, in some cases, a fine banker, and in some cases, shylocks and bad people," Trump said. "They destroyed a lot of families, but we did the opposite."

When asked by reporters after his speech about the antisemitic connotations of the term, Trump said, “I’ve never heard it that way.”