We still haven’t seen the economic recovery that we were promised after the financial crisis of 2008 left so many people with no job, no savings, and no hope for the future.
Immediately following the crisis, big government sprung into action and made things worse. It spent more money, created more onerous rules and regulation, and did nothing to fix the broken tax code.
Bailouts and stimulus spending added trillions of dollars to the national debt, Dodd-Frank and ObamaCare created more costly regulations on the American people, and Washington special interests continue to seek out carve-outs and favors in the tax code. The cumulative result of these actions is the slowest and weakest economic recovery we’ve seen in decades.
People are taking jobs that pay far less than they used to make, Millennials live with their parents because they can’t start their careers, and families are worried about their financial future. We cannot continue down this path.
A strong economy can only be built on a strong foundation that grows from the bottom-up. Main Street—not Washington or Wall Street—needs to be empowered to drive this economy. Here’s how I’m working to help:
Cut wasteful spending – With our national debt quickly approaching $20 trillion, it’s clear that Washington has a spending problem. My amendment to the budget that called on the House to find an additional $30 billion in spending cuts was the only one that passed this year.
Limit the rules and regulations coming from Washington – This year alone, over 80,000 pages of new regulations were added to the federal registry, costing each family thousands of dollars in compliance costs. I support the REINS Act that would force a vote in Congress on any regulation that would cost more than $100 million. Additionally, the Financial Services Committee where I serve has introduced the Financial CHOICE Act to make it easier for people to reach their financial goals.
Fix the tax code and special interest carve-outs – The tax code is broken and needs to be fixed. Special interests continue to seek carve outs through their connections in Washington while average Americans suffer the consequences. I support a plan that would simplify the tax code, close loopholes, and keep more money in the pockets of New Jersey families.
Economic recovery doesn’t start in Washington—it starts right here in New Jersey. Given the choice, I’ll choose the hardworking people of this state over any of the bureaucrats in Washington, and I’ll continue to fight to put the people here back in control of their financial future.