Economy
Under President Biden's Administration, inflation skyrocketed.
Republicans, including myself, are committed to making meaningful spending cuts in this new term to fight inflation and lower the cost of living for every day Americans.
We are also working to unleash American energy — bringing gas prices down across the nation — and strengthen our supply chains by encouraging American production. In the 118th Congress, I voted for H.R. 1, the Lower Energy Costs Act, to tackle the energy crisis and bring inflation down.
I also sponsored the TCJA Permanency Act, legislation to keep more money in Americans' wallets by making permanent the tax cuts for families and small businesses enacted in 2017.
Inflation is a tax on all Americans. I will continue working to ensure taxpayers' hard-earned dollars are spent wisely and cast votes in favor of economic opportunity and American job growth.
More on Economy
WASHINGTON – U.S. Congressman Michael McCaul (R-Texas) — chairman emeritus and current vice chairman of the House Committee on Homeland Security — welcomed the Department of Homeland Security’s “Notice of Funding Opportunity” opening grant applications for a total of $10 billion in reimbursements to border states for costs incurred under the Biden administration.
WASHINGTON – House Foreign Affairs Committee Chairman Emeritus Michael McCaul (R-Texas) discussed the importance of Pax Silica — the State Department's initiative to secure high-tech and artificial intelligence supply chains — with Under Secretary of State for Economic Affairs Jacob Helberg at a committee hearing titled, "Advancing National Security through Commercial Diplomacy."
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) — chairman emeritus of the House Committees on Foreign Affairs and Homeland Security — voted to pass the One Big Beautiful Bill to deliver on President Trump's agenda.
Washington, D.C. – U.S. Congressman Michael McCaul (R-Texas) voted for the Protecting Americans’ Investments from Woke Policies Act, to ensure financial institutions are focused on maximizing returns in retirement plans — not on environmental, social, and corporate governance (ESG) factors.
AUSTIN, Texas – Today, U.S. Congressman Michael McCaul (R-Texas) released the following statement on Elon Musk’s decision to move X’s headquarters to Austin, Texas.
Washington, D.C. – Today, U.S. Congressman Michael McCaul (R-Texas) praised the passage of the bipartisan Water Resources Development Act (WRDA) out of the House Transportation and Infrastructure Committee. This piece of legislation supports and protects critical water resources and infrastructure across the United States and Texas.
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) voted for the CBDC Ant-Surveillance State Act, legislation he also cosponsored, which protects Americans’ right to financial privacy by preventing the Biden administration from issuing a central bank digital currency (CBDC).
Taylor, Texas – Today, Congressman Michael McCaul (R-Texas) — author of the CHIPS for America Act — joined Samsung executives and federal, state, and local officials for an event to celebrate the announcement that the U.S. Department of Commerce and Samsung Electronics have signed a non-binding preliminary memorandum of terms to provide up to $6.4 billion in direct funding through the CHIPS for America Act. The funds would expand Samsung’s semiconductor manufacturing operations in Taylor, Texas.
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) released the following statement on President Biden’s new regulations cracking down on gas-powered vehicles.
WASHINGTON — This week, U.S. Congressman Michael McCaul (R-Texas) joined 150 Republicans, led by Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-Wash.), in sending a letter to President Biden, criticizing his de facto ban on U.S. liquefied natural gas (LNG) exports, a decision that jeopardizes the stability and affordability of natural gas domestically, hurts the American economy and jobs, undercuts our allies, and strengthens our adversaries.