Jobs, Economy and Fiscal Responsibility
One of the most important challenges we face as a nation is reducing our deficit and debt and making the right kind of pro-growth legal, tax and regulatory reforms that will create good jobs and opportunities for all Americans.
For too long, the federal government has stood as an obstacle to business. Government doesn’t create jobs and economic growth; people do. The role of government is to remove obstacles and create a positive business climate to spur job creation and economic growth, as we have in North Dakota. If we empower the private sector to invest, innovate and create jobs, we will build a higher standard of living for our citizens.
Building a good business climate means:
- Reducing our debt and deficit
- Reducing the tax burden;
- Simplifying the tax code;
- Freeing the economy from unnecessary regulations;
- Lowering energy costs;
- Encouraging entrepreneurial investment;
- Developing new technologies; and,
- Establishing a strong financial position for the country, so that we don't burden future generations with unsustainable debt.
Another benefit of a strong business climate is that it will increase revenues to reduce our debt and deficit the right way – by growing our economy rather than raising taxes. In addition to growing the economy, we also need to reduce spending. We cannot borrow our way to prosperity.
While there is still more work to be done, we have achieved some progress in recent years. I have worked to support measures that will put our nation on a path to a balanced budget, such as the Budget Control Act (BCA) of 2011. As a result of these efforts, we have reduced the nation’s deficit by more than 60 percent, from a high of $1.4 trillion in 2009 to $534 billion in 2016.
I will continue my work to find real savings to reduce our debt and deficit. I believe that if we work with good will in a bipartisan way, we can put our economy back on track, create jobs and raise our standard of living and quality of life.