Economy
A new year brings a valuable chance to reflect on the accomplishments of the previous year and prepare for the opportunities ahead in the next. This week, it was especially meaningful to have my two young children with me as I was sworn in to serve Nebraska’s Third District as a member of the House of Representatives in the 119th Congress.
Under the Biden-Harris administration, inflation triggered by anti-growth policies, lackluster engagement on trade, and bloated federal spending has hit Nebraska households hard—costing the average household in our state $32,110 more since January 2021. Rising input costs also continue to severely impact the agriculture and manufacturing industries.
This week, the American people chose to return Donald Trump to the White House while also electing a Republican majority to the Senate, and likely the House as well. Investors also received good news this week as the stock market had its best one-week rally in a year. Corn and soybean prices ended the week higher than they began, and multiple indexes surpassed record highs.
The American economy is powered by innovation and the hard-working Americans who faithfully do their jobs every day. The role of the federal government should be to empower, not hinder, the productive workers and world-leading innovators who drive our country’s remarkable capacity for growth.
As Third District farmers round out the fall harvest season, it is an appropriate time to note how hard agriculture producers work to feed and fuel the world and how this drives our state’s economy.
Washington, D.C. – Congressman Adrian Smith (R-NE) released the following statement on the Constitutional Reform of Strategic State Industries and Enterprises which passed the Mexican Senate. The legislation which had previously passed in the lower house, gives increased market preference to state-owned electric utilities.
Washington, D.C. – Today, Congressman Adrian Smith (R-NE) released the following statement after President Biden made comments on the latest jobs report.
This week, prior to the September 30 deadline to authorize funding for federal government operations for the next fiscal year, Congress passed legislation to temporarily extend current federal funding to December 20, 2024. While measures in the bill to address the effectiveness of the Secret Service were clearly needed, this result was far from ideal.
In 2024, American households are spending more on all categories of energy compared to prices at the start of 2021. As virtually every industry requires energy, this affects nearly every aspect of our lives and businesses.