Economy & Fiscal Responsibility

The American economy works best when individuals, communities, and businesses have the freedom to innovate, grow, and thrive. That means cutting taxes, removing burdensome government regulations, and letting YOU keep more of your hard-earned money.

As your Senator, I will work with my colleagues to stop any effort to undo the Tax Cuts and Jobs Act passed by Republicans in Congress in 2017. These historic tax cuts for businesses and the middle-class raised blue-collar wages and spurred tremendous economic growth across the country.

We need to promote policies that bring jobs to Alabama. Overregulation burdens businesses and stifles growth and innovation. Alabama’s low tax and regulatory burden and strong Right to Work law has helped our state become a leader in auto and aviation manufacturing, industries that support tens of thousands of good-paying jobs. The rest of the nation can learn from Alabama’s leadership.

American families are expected to be fiscally responsible, and our government should be no different. Our ballooning national debt puts the future of our children and grandchildren at serious risk. I will fight against reckless spending and will work to get our country’s fiscal house in order.

Making a Difference

President Biden and Congressional Democrats’ decision to repeatedly extend overly-generous unemployment benefits as the country recovered from the COVID-19 pandemic has incentivized many Americans not to return to work, hurting businesses and our economy in the process. To help businesses that need workers and reinvigorate our economy, I cosponsored the Back to Work Bonus Act, which would give workers one-time bonuses to return to a job rather than take unemployment benefits. 

  • The Back to Work Bonus Act would help connect unemployed workers with jobs to get the economy going again. 
  • This bill would provide a one-time payment of $1,200 to those returning to a full-time job, or $600 to those returning to a part-time job, and is comparable to a hiring bonus.
  • The bill would also reinstate the federal work search requirement for individuals receiving unemployment. 

President Biden’s reckless spending policies have impacted Americans everywhere from the grocery store to the gas pump. Inflation is the highest it has been in 41 years.

  • I have spoken out on President Biden’s reckless spending policies that have created record-high inflation for hardworking Americans.
  • As a part of my “Coach on the Street” series, I talked to Americans about how soaring gas prices are affecting them. 

The Internal Revenue Service (IRS) has a history of big government overreach and using taxpayer data to target certain groups. I was alarmed at President Biden’s proposal to require banks and credit unions to report every financial transaction of $600 or greater to the IRS. 

  • As a part of my “Coach on the Street” series, I asked Americans directly what they thought about big brother government trying to snoop in their financial matters.
  • introduced the Protecting Financial Privacy Act to block this proposal and keep the federal government out of Americans’ bank accounts. 

The retirement savings of our military and federal government employees, known as the Thrift Savings Plan (TSP), should not be invested in the economies of our adversaries, such as China.  Doing so would expose these investors to significant economic risk and undermine U.S. national security interests. Former President Trump’s administration rightly intervened and ordered the Federal Retirement Thrift Investment Board (FRTIB) to cancel its plans. Unfortunately, the Trump-era ban on TSP investment in China is no longer in place.

  • I introduced the Prohibiting TSP Investment in China Act to prevent federal retirement funds from being invested in any entity based in the People’s Republic of China. I wrote about this issue in the Wall Street Journal “I’ll Keep Veterans’ Pensions Safe From Communism” and discussed the issue on Fox Business.
  • continued the push for accountability from the Federal Retirement Thrift Investment Board (FRTIB) surrounding the board’s policy on foreign investments to Acting FRTIB Chairman David Jones. 
  • I also joined my colleagues in a letter to four of President Biden’s FRTIB nominees requesting they commit to withholding federal retirement savings of U.S. military and other federal employees from investment in Chinese firms that undermine U.S. national security.

The federal government should work to serve all Americans, not just special interest groups. I introduced the Stop Settlements Slush Funds Act to stop the federal government from directing settlement funds to third-party organizations.