By Sen. Jim Risch
If you only listen to the media, you’d think President Trump’s economic plan hinges solely on the one word they have repeated ad nauseam: tariffs.
Let’s be clear—there is no single solution to revitalizing the U.S. economy. This problem demands a bold, multi-pronged approach that meets 21st-century needs and puts the American people first. Thankfully, that is just what President Trump is implementing.
While the talking heads on television paint a bleak picture of where we are headed, the facts tell a different story. America has only just emerged from four years of failed Democrat policies that resulted in soaring inflation, disrupted supply chains, and a staggering national debt of $36 trillion.
Democrats broke the economy. Now, it is up to President Trump and Congressional Republicans to fix it.
Regulatory reform, shrinking government, lowering taxes, achieving energy independence, and rebalancing trade relations are the pillars of the Trump administration’s strategy. This comprehensive approach will reshape the American economy and enable continued prosperity in the 21st century.
1. Regulatory Reform:
Pointless red tape has imposed high costs on businesses, put Americans out of work, and squandered taxpayer dollars. In President Trump’s first term, we removed outdated, burdensome regulations that strangled American small businesses. The results? A surge in investment, stronger industry, and renewed opportunities. Federal bureaucrats do not build our nation—American workers do. To remain at the forefront, we must dismantle the regulations hindering success.
2. Shrinking Government:
By the end of the Biden administration, the federal bureaucracy had grown to record highs and $1 trillion was being added to our national debt every 150 days. This cannot go on. Washington, D.C., has become too big, too bloated, and too detached from the people it’s supposed to serve. As a lifelong fiscal conservative, I’ve fought federal overreach and wasteful spending my entire career. Now, Republicans and President Trump are rooting out the abuse of taxpayer dollars and finally reining in the bureaucracy.
3. Lowering Taxes:
Nothing propels an economy like letting people keep more of what they earn. President Trump’s 2017 tax cuts put money back in the pockets of American workers, families, and small businesses. Democrats want to repeal these once-in-a-generation tax cuts and impose a $4.5 trillion tax hike on you. We won’t let that happen. Republicans, including my colleague Senator Mike Crapo, are working to make these tax cuts permanent and deliver even greater relief that rewards American determination.
4. Achieving Energy Independence:
If America wants to remain a leader in deploying ground-breaking technologies, we must achieve energy independence. The United States has the potential to do this in a way that is safe, secure, and reliable. However, red tape and radical environmental policies have made it near-impossible to use the resources in our own backyard—making us reliant on foreign powers, compromising our national security, and driving up costs for Americans. Nuclear energy and critical mineral production are clear solutions to power a thriving 21st-century economy. President Trump is keenly aware of this and is already taking action to unleash America’s energy potential.
5. Restoring Fair Trade:
Communist China and other countries have manipulated markets, stolen intellectual property, and exploited America’s openness for too long. President Trump won’t stand for it. His trade policy will level the playing field and assert American interests in a global system stacked against us. We finally have a president leveraging America’s influence at the negotiating table.
Each of these pillars reinforces the others:
Regulatory reform empowers small businesses and critical energy projects. Energy independence powers industry and protects our economy from foreign shocks. Strategic tariffs drive domestic investment, creating jobs for American workers. Lower taxes and a streamlined government return greater freedom for American citizens, families, and business owners.
President Trump is a commonsense leader with a proven ability to get things done. His economic plan is not about recovery; it’s a blueprint for future prosperity. It’s up to Republicans in Congress to help make that vision a reality.
This revolution will take time and patience. Restoring America’s economic greatness will not be achieved overnight. However, we must reject the radical, failed policies of the Biden administration that favored activist agendas over reason and the American people.
Now is the moment to deliver real, lasting change that puts Americans first.
About Jim Risch
Jim Risch proudly represents the people of Idaho in the United States Senate. He currently chairs the Foreign Relations Committee and sits on the Committee on Energy and Natural Resources. Risch previously served as Governor, Lieutenant Governor, and State Senator. For the latest press releases and constituent services visit risch.senate.gov.
