Sustaining economic growth continues to be one of our nation's primary challenges. That is why I support pro-growth economic policies that foster innovation and job creation. My plan rejects the big government cycle of “tax, spend and borrow” that discourages prosperity and economic growth.
Giving away your hard-earned tax dollars to companies that made poor and often unethical business decisions, and spending your money on pork projects that don’t create jobs only serves to grow our national debt. Economists share my concern that we are headed toward hyperinflation: prices will go up, the value of the dollar will decline, and interest rates on credit cards and mortgages will skyrocket. If we continue down this path, it appears that our children will be worse off than we are or their grandparents were. It’s not supposed to be this way.
I support a budget plan that will move Americans toward prosperity without spending record amounts of taxpayer dollars and without increasing the tax burden on families and businesses. Especially during a recession, our priority should be to help businesses succeed by creating a business-friendly environment with reasonable tax burdens and responsible regulations that won’t stifle job creation. Minimizing the tax burden on families will allow them greater flexibility to make ends meet. Lowering the Capital Gains tax will encourage private investment in our financial markets.
I helped lead the charge to ban Earmarks beginning in 2008. In 2011 when Republicans took back the House, we were able to permanently eliminate earmarks. Although they can be a valuable tool to local economies, the system was susceptible to waste, political gamesmanship and was abused to the point where Americans stood up and asked Congress to eliminate them.
I will continue to be a steward for ensuring taxpayers' hard earned dollars are spent wisely and cast votes in favor of economic prosperity and legislation that promotes American job growth.
More on Economy
WASHINGTON, D.C. – Congressman Michael McCaul (R-TX), Chairman of the House Homeland Security Committee and a senior member of the House Foreign Affairs Committee, applauds the House passage of the final version of H.R. 1, the Tax Cuts & Jobs Act, to reform our tax code.
WASHINGTON, D.C. – Congressman Michael McCaul (R-TX), Chairman of the House Homeland Security Committee and a senior member of the House Foreign Affairs Committee, released the following statement after the House voted to go to conference on H.R. 1, the Tax Cuts and Jobs Act.
WASHINGTON, D.C. – Congressman Michael McCaul (R-TX-10), Chairman of the House Committee on Homeland Security and a senior member of the House Foreign Affairs Committee, released the below statement after the House took historic action to reform our tax code by passing the Tax Cuts and Jobs Act.
WASHINGTON, D.C. – Today, Congressman Michael McCaul (R-TX), Chairman of the House Homeland Security Committee and a senior member of the House Foreign Affairs Committee, applauded the introduction of H.R. 1, the Tax Cuts and Jobs Act. This is bold legislation to overhaul our nation’s tax code for the first time in 31 years.
WASHINGTON, D.C. – Today, Congressman Michael McCaul (TX-10) – Chairman of the Homeland Security Committee and a senior member of the Foreign Affairs Committee – released the below statement following the House passage of the Financial CHOICE Act to grow our economy in Texas.
WASHINGTON, D.C. – House Homeland Security Chairman Michael McCaul (R-TX), issued the following statement in regards to President Trump's budget proposal.
Politicians on both sides of the aisle have spent a lot of time paying lip service to our nation’s entrepreneurs. On one hand, we tell them they are “the cornerstone of our communities,” then on the other we promulgate regulations that stifle competitiveness and innovation rather than unleash it. Instead of being able to focus their time on hiring and growing their industries, small business owners are struggling to keep their heads above water.
WASHINGTON, D.C. – Today, Congressman Michael McCaul (TX-10) issued the following statement about President Trump’s executive order on regulations.
President Trump signed an executive order requiring that for every new federal regulation implemented, two must be rescinded. This came after the re-introduction of McCaul’s One In, One Out Act, which would require at least one deregulatory measure be found with greater or equal cost before a federal agency can impose a new costly regulation on small businesses.
WASHINGTON, D.C. – Congressmen Michael McCaul (TX-10), Phil Roe MD (TN-1), Rick Allen (GA-12), Dave Brat (VA-07), and Louie Gohmert (TX-01) introduce the One In, One Out Act to cut the red tape in order to get government out of the way where it is most harmful and let business owners do what they do best – hire, compete, innovate, and flourish.
WASHINGTON, D.C. – Congressman Michael McCaul (TX-10) and Congresswoman Kyrsten Sinema (AZ-09) introduced the No Raise for Congress Act today to end automatic pay increases for members of Congress.