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 continue to oppose 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 federal 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 incentivized many Americans not to return to work, hurting businesses and our economy in the process.

President Biden’s reckless spending policies have impacted Americans everywhere from the grocery store to the gas pump. Record inflation is crushing American families.

  • 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. 
  • opposed reckless levels of government spending and will continue to fight for a responsible budget that we can afford.

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.
  • I introduced legislation 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 to invest in economies of adversarial countries. Unfortunately, the Trump-era ban on TSP investment in China is no longer in place, leaving TSP savings vulnerable to inappropriate foreign investment.

  • 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 FRTIB surrounding the board’s policy on foreign investments to Acting FRTIB Chairman David Jones. 
  • I placed a hold on nominees to the FRTIB until the nominees provided clarification regarding foreign investment policies, which forced the nominees to commit to opposing TSP investment in China.

America’s free market economy is the envy of the world, but there are bad actors who would like to undermine our nation’s economic success. I always have the interests of the American people and main street U.S. investors in mind as I push for sensible financial reforms and regulations to safeguard our economy. As adversaries like China attempt to steal American intellectual property and infiltrate our business and financial sectors, I’m working to curb their influence in the United States.

  • led the call for an investigation into Webull Financial, LLC and Moomoo, Inc. — two Chinese-owned stock trading apps operating in the United States that are registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority. Both apps are widely used by American investors and freely collect and store sensitive information about users, including Social Security numbers, mailing addresses, and sensitive financial account data. 
  • pushed for President Biden to ban Russian companies from the U.S. financial system to ensure American investors are not inadvertently funding Russia’s war against Ukraine. 
  • supported a ban on all 93 million members of the CCP from obtaining B-1 and B-2 visas for business and vacation in the United States. The CCP is responsible for trillions of dollars of intellectual property theft from Americans each year. 
  • Following the meltdown of cryptocurrency firm FTX, I spoke out about the need for a federal cryptocurrency regulatory framework and called for bipartisan solutions to protect American  investors and secure our country’s role as the world’s leading financial innovator.