Opportunities in the 118th Congress
This week, we officially gaveled in the 118th Congress. With Kevin McCarthy as Speaker of the House, I know House Republicans will deliver on our Commitment to America to restore a government that’s accountable, a nation that’s safe, an economy that’s strong, and a future that’s free.
Our challenges are great. Inflation is soaring, our supply chains are broken, and with a workforce participation rate which remains historically low at 62.1 percent, it’s clear too many American workers are on the sidelines of the economy. Crime is out of control, our southern border is not secure, and bureaucrats have tried to rob Americans of their power to make the best decisions for their families time and time again. The stakes are high.
The road to economic recovery clearly leads through connecting Americans to good-paying jobs and making sure wage gains are not destroyed by inflation. We should be focused on encouraging investment in domestic manufacturing and supply chains to minimize our dependence on China. From baby formula to semiconductors, these past couple years have been a hard lesson in what happens when supply chains fail. Identifying and making critical supply chains more resilient is a common goal across both parties. The key will be in using a smart and tactical approach that does not just throw money at the problem without fixing the underlying vulnerabilities.
By working carefully through honest debate and advancing the best ideas brought to the table, we can achieve success on bipartisan priorities due for reauthorization such as the Farm Bill and certain trade policies. Promoting the competitiveness of American producers and companies in the global marketplace is not a partisan issue. Two uncontroversial trade programs, the Generalized System of Preferences (GSP) and Miscellaneous Tariff Bill (MTB) do just that and should be reauthorized without delay. GSP and MTB should not be held hostage by bigger and more complicated trade debates, particularly as small businesses relying on them face other economic challenges brought on by workforce shortages and inflation.
Furthermore, we have a responsibility to protect American innovation and exports like biotech corn. I have been doggedly committed to holding the Biden administration accountable for defending U.S. interests in disputes with our trading partners, and I will continue to fight for fair trade.
Cultivating an environment that does not choke out American businesses, but instead encourages economic growth is critical to our mission to help Americans flourish. The Tax Cuts and Jobs Act (TCJA) doubled the standard deduction, doubled the child tax credit, and lowered rates for earners across all income brackets. Those provisions have greatly benefited our economy, but they’re only temporary. We should work together to make tax relief for families and small businesses permanent. We’ve done this in divided government once, and we can do it again. We should ensure job creators have the certainty needed to encourage investment so the United States can remain the most innovative country in the world.
There are many other issues we must work through. These are things we can achieve in a bipartisan way, and I stand ready to work with anyone who is willing to come to the table in good faith with ideas to deliver the solutions needed to rebuild our economy.
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