More on Economy
Pre-COVID, the United States had a robust and booming economy, both in terms of economic growth and in terms of economic opportunity available to Americans in the workforce. This success was directly attributable to two of the biggest accomplishments to come out of the Ways and Means Committee in the past 25 years - welfare reform and comprehensive tax reform.
Our national and global economy rely on the efficacy of supply chains. Supply chains are found in every industry, sector, and market, and include all actors involved in creating and bringing a product from start to finish. Farmers and ranchers, manufacturing facilities, retail, and the transportation in between, are all critical to the success of this multi-pronged system. Over the course of the last year we have seen just how much we as consumers have taken for granted supply chains and the logistics behind them.
Many parts of the economy in our great state of Nebraska are thriving. However, the new slate of tax increase proposals coming from the Biden Administration will undermine the success of Nebraska, and states like it, by removing capital from family farms and small businesses at a time when we need to be encouraging economic growth.
Nebraskans know how important it is to protect our environment, especially the farmers and ranchers across the Third District whose livelihoods are tied directly to the land they cultivate, the water they use to irrigate, and animals they raise. Across party lines it is clearly understood that there are ways we can address environmental concerns and improve access to the energy we need to fuel our economy. However, the government must not arbitrarily pick winners and losers or create new policy solely for messaging purposes.
Washington, D.C. – Congressmen Adrian Smith (R-NE) and Jim Costa (D-CA) today along with Rodney Davis (R-IL), John Garamendi (D-CA), Dusty Johnson (R-SD), Troy Nehls (R-TX), Jimmy Panetta (D-CA), and Mike Thompson (D-CA), led a bipartisan group of colleagues in a letter to Michael A. Khouri, Chair of the Federal Maritime Commission, voicing concern over reports that certain vessel-operating common carriers (VOCCs) are declining to ship U.S. agricultural commodity exports from U.S. ports.
Washington, D.C. – Congressman Adrian Smith (R-NE), along with the co-chairs of the House Biofuels Caucus, introduced the Renewable Fuels Infrastructure Investment and Market Expansion Act and the Adopt GREET Act today. These two new pieces of legislation would increase access to biofuels for consumers and require the Environmental Protection Agency (EPA) fully recognize their environmental benefits.
Washington, DC – Congressman Adrian Smith (R-NE) took to the floor of the House of Representatives today to speak in opposition of the proposed budget reconciliation ahead of the vote on the American Rescue Plan Act of 2021. Smith voted against the American Rescue Plan Act of 2021.
Watch Congressman Smith’s floor speech here.
Remarks as prepared for delivery:
Mr. Speaker, I rise to oppose this package
Defeating COVID-19 includes reconnecting unemployed Americans. Before the pandemic, America’s economy was thriving. Workers at the bottom of the income ladder were seeing the largest wage gains in recent history. Two principle achievements from the last 25 years - the 2017 Tax Cuts and Jobs Act and the 1996 Welfare Reform Act - ensured Americans benefitted from hard work.
Nebraska is a biofuels powerhouse - the second and third largest producer of ethanol and corn, respectively, in the country. With 25 active ethanol plants and a capacity of more than 2.5 billion gallons, the importance of biofuels to our state economy cannot be understated. Biodiesel production in Nebraska has seen exponential growth as well. Thanks to innovation and technological developments, biodiesel production has grown from 25 million gallons in 2004 to 2.9 billion gallons in 2019.