Economy & Small Business
A healthy economy is the key to a prosperous America. When I travel across the Fourth District of Oklahoma, I am always inspired by the entrepreneurial spirit and can-do attitude of Oklahoma workers and our small businesses, which employ more than half of our state’s workforce.
The COVID-19 pandemic and continuing inflation crisis have taken their toll on millions of Americans. Due to inflation, Americans paid $5,200 more in 2022 for the same goods in 2021. Savings are being depleted, and borrowing has reached its highest level since the 2008 Financial Crisis.
As your member of Congress, I will support policies that strengthen the American economy and support American businesses, especially our small businesses. It is important to maintain a tax code that supports innovation and entrepreneurship. We must also rein in the Biden Administration’s excessive government spending and misguided policies, which instigated our present inflation crisis and threaten to drive our economy into a painful recession. Additionally, we must address the main drivers of our national debt. If left unchecked, our national debt will threaten America’s economic future with higher interest payments, increased risk of financial crises, higher taxes, and a lower standard of living for future generations.
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It’s almost the time of year again that the majority of Americans consistently dislike most: tax day. When it comes time for filing income taxes, similar woes and frustrations related to navigating the nation’s needlessly complicated tax system are shared by most Americans. Because of the headaches associated with finding the necessary filing documents, navigating the tricky instructions and still wondering if you got it right, it’s no wonder that many request an extension or opt for professional tax preparation services.
Considering the presidential election cycle, terrorist threats at home and abroad and President Obama’s attempt to nominate a new justice of the Supreme Court, the coming months are certain to bring their fair share of drama. However, in the midst of these contentious circumstances, it’s important to note what isn’t adding to the turmoil for a change. Because of the Bipartisan Budget Act of 2015, there has been no threat or even talk of a government shutdown this year.
Like most rhetoric coming from President Barack Obama, his latest budget was filled with initiatives that sound good until you get into the details, especially the details regarding how to pay for these initiatives. This couldn’t have been more clear than in the method he proposed to deal with health threats to society posed by diseases like cancer and conditions like opioid abuse. While the president saw the value of enlisting biomedical and scientific researchers to deal with these problems, his proposed plan to pay for these policies is extremely irresponsible.
In what has become an annual event, last week President Obama released a budget proposal that has no basis in reality. This year, he again ignored our nation’s crushing burden of debt and the outdated entitlement programs that are driving it and instead offered a proposal that raises taxes on job creators and proposes billions of dollars of additional spending for new government programs.
After seven long years, the damaging consequences of President Obama’s liberal agenda and policies become even more glaring by the day. Instead of confronting the serious challenges that desperately needed his attention, leadership and willingness to work with the legislative branch after he took the oath of office, the president has chosen throughout the entirety of his administration to ignore some of the most pressing issues facing the American people.
