Exclusive – Rep. Marsha Blackburn: Unleashing the American Economy
Capitol Hill is surrounded by an endless supply of negative hyperbole — from liberal fear mongering to doomsday rhetoric to mainstream media talking heads. From what you may hear on the news, it feels like America’s best days are behind us.
But, quietly and consistently working, Conservatives have been making needed changes to a system that better served unelected bureaucrats than it did the American people. Despite what the pundits may tell you, there is good news. The economy is booming, job growth is on the rise, and real, meaningful, positive change is taking place. And yes, we are draining the swamp.
It has been almost a year since President Trump took office, and during this time, it’s becoming increasingly difficult for his critics to ignore the roaring economy. Day after day, the stock market continues to close at record highs. The Dow recently topped 25,000 for the first time in history. Unemployment is at a 17-year low and more than half of the American public rates the economy as good or excellent.
It is impossible to discount the economic environment that President Trump has fostered through his leadership and actions. His most powerful and impactful tool has been deregulation – which gets the government off of your back and out of your pocketbook. Washington red tape has hindered Americans from achieving the American dream. In the past year, 635 regulations have been withdrawn, 244 were made inactive, and 700 were delayed.
For every new regulation put on the books, 22 have been taken out. Whether it’s green-lighting the Keystone XL pipeline or opening up competition in health care markets across state lines, it is estimated that we have saved $8 billion in federal regulatory costs. These numbers speak for themselves, and we’re just getting started.
For years, conservatives like myself have worked hard to stop Democrats’ regulatory onslaught. Finally, we have a President who is a businessman, and is looking out for the American people. President Trump has created a culture of regulatory reform. Federal agencies like the EPA have taken a “back to basics” approach, creating task forces to identify regulations ripe for repeal. They are rescinding or re-writing economically destructive and abusive rules, such as Administrator Pruitt’s proposal to repeal the Clean Power Plan.
Congress is working to do its part as well, using the Congressional Review Act to wipe out a wave of last-minute regulations pushed through days before President Obama left office. We’ve reined in burdensome Dodd-Frank provisions through the Financial CHOICE Act, ended taxpayer bailouts and provided relief for small and community banks while protecting consumers.
Recently, I introduced legislation to keep the Internet free and open after the FCC repealed Obama era regulations that stifled internet investment and gave tech companies a pass to censor and block free speech.
However, what has unquestionably been Congress’ most instrumental victory for the American economy was the passage of the tax reform. This historic legislation overhauls America’s tax code for the first time since President Reagan and Congress did so 31 years ago. While some said it couldn’t be done, we did it.
This law reduces tax rates for every American from top to bottom, letting families keep more of their hard-earned paychecks. We are finally delivering promised relief to small businesses and entrepreneurs and draining the swamp by getting rid of special interest tax loopholes. It simplifies the system so that most Americans will be able to file their taxes on a postcard and repeals the disastrous effects of Obamacare’s individual mandate.
Above all, this law will strengthen the economy and improve the lives of Americans.
Americans support President Trump because of his pro-growth, pro-freedom, and pro-opportunity platform. As President Reagan said, “I know that for America there will always be a bright dawn ahead.” We are a government by the people, and for the people. The people have spoken, and we are working here in Washington to fulfill their agenda.