Delivering on Our Commitment to a Government That's Accountable

This week the Supreme Court heard arguments on Biden v. Nebraska and U.S. Department of Education v. Brown, two challenges to the Biden administration’s student debt cancellation proposal. The administration’s debt cancellation scam is just one example of a pattern of irresponsible economic policies that have resulted in ongoing inflation, exacerbated workforce woes, and increased financial hardship hitting American households. In our Commitment to America agenda, House Republicans made a promise to deliver a government that is accountable to taxpayers. To do this, we must conduct stringent oversight, stop reckless policymaking, and move forward proposals that will get our country back on track. 

This week, the House Ways and Means Committee passed H.R. 1163, The Protecting Taxpayers and Victims of Unemployment Fraud Act. This legislation would empower states to expand their pursuit to recover billions of dollars in fraudulent COVID unemployment insurance payments. Congressional Democrats blocked efforts by Republican lawmakers to include responsible reforms and effective incentives in programs intended to provide relief to workers disrupted by the COVID-19 pandemic, and experts say as much as $400 billion in improper unemployment insurance payments were stolen by fraudsters during the pandemic. To date, just over $5 billion has been recovered.

It is always better to prevent fraud than to have to try to recover it, therefore we must improve fraud prevention strategies by examining the aspects of relief programs that worked, while preventing future situations in which benefits are provided on a pay-now-ask-questions-later basis.

To further deliver on our Commitment to America, House Republicans are also increasing transparency and ensuring government accountability for other inflationary policies pushed by the Biden administration. This week, with my support, the House passed the REIN IN Inflation Act. This legislation would require the Chairman of the Council of Economic Advisors and the White House Office of Management and Budget to provide reports to Congress on the inflationary impact of any executive action with an estimated impact of at least $1 billion.

Since President Biden’s day-one executive action to cancel the Keystone XL pipeline, which eliminated an estimated nearly 60,000 American jobs, the president has abused his executive power to push an out-of-touch agenda. The record inflation which has persisted throughout his presidency is a grim testimony to the harm overspending does to American families and small businesses.

On December 1, 2022, President Biden’s Department of Labor published a rule to permit retirement plan fiduciaries to consider left-wing environmental, social, and corporate governance (ESG) agendas when making decisions on behalf of their shareholders. This rule reverses Employee Retirement Income Security Act (ERISA) protections that state fiduciaries must act for the “exclusive purpose” of “providing benefits to participants and their beneficiaries.”

Americans are already struggling to save for their futures, and in many cases are draining their savings due to overwhelming inflation. The last thing retirees need is to have their life savings targeted because some fiduciaries could decide to prioritize ESG over their financial futures. This week, with my support, the House also passed a resolution to reverse the ESG rule utilizing the Congressional Review Act. I’m pleased the Senate quickly passed the resolution the following day, but I am disappointed the president is expected to veto this effort to stop his executive action.

President Biden’s economic policy is out-of-control and out-of-touch. We must get back to the business of encouraging growth and empowering Americans with the freedom to flourish. Killing jobs, incentivizing fraud, and shrinking the value of savings are the last things Americans need right now. Through a commitment to a government that’s accountable and an economy that’s strong, we can and will build a better future for our country.

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