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 – This week, U.S. Congressman Michael McCaul (R-Texas) voted in favor of the Save Our Gas Stoves Act and the Gas Stove Protection and Freedom Act, to prohibit the Biden administration from banning gas cooking appliances, which would increase Americans’ electricity bills and limit consumer choice.
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) — author of the CHIPS for America Act — released the following statement on the Texas CHIPS Act being signed into law.
AUSTIN, Texas – This week, U.S. Congressman Michael McCaul (R-Texas) participated in a roundtable hosted by the University of Texas at Austin, focused on how his CHIPS for America Act will continue to boost Texas' leadership position in the semiconductor industry. Rep. McCaul was joined by UT President Jay Hartzell, the Department of Commerce’s Senior Advisor on CHIPS Implementation J.D. Grom, Rep. Lloyd Doggett (D-Texas), and industry leaders from Texas Instruments, Samsung, AMD, and several other chips-related companies.
AUSTIN, Texas – This week, U.S. Congressman Michael McCaul (R-Texas) — author of the CHIPS for America Act — visited an Advanced Micro Devices (AMD) campus in Austin, Texas, where he toured AMD’s Customer Engagement Center and testing labs and experienced leading-edge semiconductor technology firsthand.
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) released the following statement on President Biden’s proposed $6.9 trillion budget.
“President Biden and Congressional Democrats have pushed our economy to the brink with their partisan spending sprees,” said Rep. McCaul. “Inflation has risen more than 13% since he took office, and — as the Congressional Budget Office reported just this week — our debt is set to reach a devastating $154 trillion by 2053.
WASHINGTON – This week, U.S. Congressman Michael McCaul (R-Texas) joined U.S.
WASHINGTON – Today, U.S. Congressman Michael McCaul (R-Texas) released the following statement on the launch of the first funding opportunity for the Creating Helpful Incentives for the Production of Semiconductors (CHIPS) for America Act, legislation he introduced and championed in Congress.
WASHINGTON – Today, Congressman Michael McCaul (R-Texas) announced he has joined Congressman Vern Buchanan (R-Fla.) and 71 colleagues in reintroducing the TCJA Permanency Act (H.R.976), legislation to make permanent the tax cuts for individuals and small businesses originally enacted as part of the Tax Cuts and Jobs Act (TCJA) of 2017.
WASHINGTON – U.S. Congressman Michael McCaul (R-Texas) released the following statement after voting ‘no’ on the Democrats’ $1.7 trillion lame-duck spending spree.
“Last month, Americans voted for a Republican House majority to keep the Biden administration in check. Yet in the final hours of their one-party rule, Democrats rammed through 4,155 pages that will fund their failing agenda for another year.
Washington, D.C. – Representative Michael McCaul (TX-10) issued the following statement in advance of tomorrow's vote in the House of Representatives on the Inflation Reduction Act of 2022.