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, D.C. – Representative Michael McCaul (TX-10) released the following statement after news that inflation remains at historical highs, with the Consumer Price Index (CPI) at 8.5 percent. This report comes just days before House Democrats are set to pass a massive, partisan spending package that would increase taxes on Americans and only further exacerbate inflation.
Washington. DC – Today, Congressman Michael McCaul (R-TX) released the following statement after news that the Consumer Price Index (CPI) soared to 9.1 percent, the highest rate since 1981. For perspective, in January 2021, when President Biden took office, the CPI was 1.4 percent.
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 on the United States-Mexico-Canada trade agreement.
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 President Trump announced an updated trade agreement with Mexico.
WASHINGTON, D.C. – Congressman Michael McCaul (TX-10), Chairman of the House Homeland Security Committee and a senior member of the House Foreign Affairs Committee, released the below statement following the passage of H.R. 1625 Consolidated Appropriations Act, 2018.
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.