Boosting American Competitiveness

Christmas is going to look different for many Americans because of ongoing supply chain challenges and soaring inflation. We have seen shortages of items such as appliances, jewelry, electronics, holiday food items such as turkey, and even Christmas lights and trees. Faced with a serious hike in input costs, more than 70 percent of wholesale Christmas tree growers have been forced to increase their prices by up to 15 percent over last year.

While supply fails to meet demand, record inflation is driving increases in the price of everyday essentials. Food costs are up over 10 percent from this time last year and energy costs are up 13 percent. According to the Consumer Price Index (CPI), inflation rose to 7.1 percent in November. When President Biden took office, inflation was just 1.4 percent.

To strengthen domestic supply chains, fight inflation, and lower the cost of living for Americans, we must increase American production to meet demand and build and strengthen relationships with countries we can rely on. Boosting American competitiveness on the world stage with a strong, strategic trade strategy will help lower costs for both American families and producers who have seen fertilizer prices increase 30 percent in 2022, after increasing 80 percent in 2021.

Enhancing our global competitiveness and leadership requires countering China’s ambitions to maximize global influence in the developing world, especially Africa. This is why we need to be proactive in our relations with eager trade partners such as Kenya and Taiwan. With the eyes of the world on Vladimir Putin’s invasion of Ukraine, China would like nothing more than to increase leverage over Taiwan. This would not only have implications for the electronics and semiconductor industry; it would increase the likelihood of conflict.

China’s zero COVID policy has already impacted the manufacturing plants that make iPhones. This has created waitlists for American consumers but, beyond that, our dependence on China is a serious national security issue. House Republicans are committed to holding the Chinese Communist Party accountable as part of our Commitment to America, which is why we are forming a Select Committee on China in the Republican-led Congress come January. To effectively counter China, we must prioritize homeshoring and nearshoring our supply chains and – as a member of the House Committee on Ways and Means – I look forward to working closely with the Select Committee on China.

Expanding markets and lowering trade barriers for American manufacturers and producers whose products strengthen our economy must be among our top priorities in the new Congress. In addition, making the individual and small business provisions of the Tax Cuts and Jobs Act, including the 20 percent small business deduction, permanent will help ensure our businesses are truly competitive. Most importantly, it will provide much-needed relief for American consumers struggling under soaring inflation.

It is clear one-party rule in Washington has failed American families and new leadership is long overdue. Through our Commitment to America, House Republicans will fight to get our country back on track. Help is on the way.