Inflation, Economy, and Taxes
For several years, our national and local economies were thriving, particularly under President Trump and the Republican Congress. People moved from poverty to prosperity, families got ahead, and Americans’ jobs and investments reached all-time highs. Stock markets and workers’ pensions, tied to them, soared. Wages kept pace with prices, and on Long Island, home values climbed to near all-time highs while unemployment remained low.
Current Challenges
Now, unfortunately, the price of just about everything is rising faster than Long Islanders’ wages and retirees’ fixed incomes. In Congress, I have worked tirelessly to restore the prosperity of recent years and lead the fight to restore the State and Local Tax (SALT) Deduction. Specifically, I have fought for policies to lower inflation and reduce the rising prices of gasoline, groceries, and heating and cooling costs.
Unleashing American Energy
The President and Congress must incentivize the safe extraction of America's 43.8 billion barrels of proven oil reserves, including approving and expediting drilling permits on federal land. Here in New York, the Governor should allow the safe extraction of the state's immense natural gas reserves, without touching Long Island's coastal waters. By increasing the energy supply, prices will fall. I have supported a range of bills to achieve this, including the Lower Energy Costs Act, the Strategic Production Response Act, and the Protecting America’s Strategic Petroleum Reserve from China Act.
Reining in Spending and Balancing the Budget
Washington politicians must rein in federal spending and finally pass a balanced budget. In Congress, I have supported bills like the Fiscal Responsibility Act, which cuts spending year over year for the first time in over a decade, while fully funding critical programs, including Social Security, Medicare, Veterans' health care and the military. I have also championed the REIN IN Inflation Act, requiring the President to consider the inflationary effects of an Executive Order before signing it.
Empowering the American Worker and Manufacturers
Inflation is exacerbated by our $600 billion trade imbalance and supply chain disruptions caused by an overreliance on overseas products. Congress must promote trade deals and regulations that support American manufacturing and ensure workers aren’t incentivized to stay home. I’ve supported legislation such as the Pandemic is Over Act, which ended the COVID-19 public health emergency, and the SHOW UP Act, which requires federal workers to report to work in person, providing more efficient services. I have also supported our defense industrial base through the National Defense Authorization Act (NDAA). Supporting American manufacturers sets us up for success, and I will continue to fight for these jobs in Congress.
Moving Forward
Government created this mess, and government leaders can help us get out of it. By enacting policies that grow our economy and let Americans keep more of their hard-earned money, we can improve everyone's quality of life and rise together as a nation. In Congress, I’ll continue fighting to do just that.