WASHINGTON – In a keynote address at the America First Policy Institute, Speaker Mike Johnson presented a bold economic vision for the nation, laying out a detailed plan for restoring economic freedom, bolstering the middle class, and reversing the impacts of what he described as “Bidenomics.” His speech highlighted the achievements of the Trump administration and offered a comprehensive legislative agenda for the first 100 days under a potential second Trump presidency.
Johnson focused on critical issues, including the rising cost of living, national debt, and economic instability, pointing to the struggles many Americans face. “We’ve got too many hardworking Americans that are struggling to get by,” Johnson said. “Many families are having to put their groceries on credit cards now, and this is not sustainable.”
Critique of Bidenomics
The Speaker was critical of the Biden-Harris administration’s economic policies, citing inflated costs for groceries, rising debts, and stagnant wages. He pointed out that Americans are saving less than ever, with many families unable to cover a $1,000 emergency expense. Johnson emphasized that under current policies, inflation has driven the cost of living higher, with more Americans falling into debt.
Trump-Era Economic Success
Johnson praised the economic growth seen under President Trump, noting that during his administration, the economy thrived by reducing government involvement. He highlighted key strategies from the Trump years, such as energy independence, cutting regulations, and simplifying the tax code. “The formula for that success was simple: we produced energy here at home, cut regulations, reduced government bureaucracy, and changed the tax code so Americans could keep more of what they earn,” he said.
Focus on Tax Reform and American Investment
The Speaker outlined a broad-based tax policy that aims to unleash American innovation and encourage domestic manufacturing. His legislative plan includes restoring immediate expensing for research and development costs and ensuring incentives for U.S. intellectual property ownership. He also spoke of maintaining tax cuts to support job creation and child tax credits while ensuring tax policies respect the dignity of work.
American Energy and Trade
In a pointed critique of current environmental policies, Johnson committed to rolling back “Green New Deal regulations” and reestablishing American energy dominance. He also targeted trade practices, stating, “Gone are the days of allowing China to steal our jobs, exploit our trade deals, and hollow out our manufacturing sector.” Johnson’s agenda calls for securing U.S. borders and reforming trade policies to protect American industries.
Education and Workforce Development
Reforming the education system was another key aspect of Johnson’s vision. He advocated for expanded school choice, empowering parents, and holding university administrators accountable for what he described as “woke” policies. Johnson emphasized the importance of education in preserving America’s pioneering spirit and preparing the next generation for the workforce.
Fiscal Responsibility and Government Reform
Addressing government inefficiency, Johnson pledged to cut wasteful spending, particularly in areas such as the Green New Deal, and reduce the size of the federal workforce. He outlined plans to streamline the federal government, root out fraud and abuse, and reduce the growing number of non-essential government jobs.
As the nation looks ahead to the next election, Johnson’s speech offered a glimpse into the potential direction of U.S. economic policy under future Republican leadership. He emphasized a commitment to fiscal responsibility, energy independence, and an overall reduction in government intervention in the economy.
