Americans Deserve Pro-Growth Solutions — Not Higher Prices and Economic Uncertainty

Americans are paying more, saving less and bracing for an economic downturn, as inflation remains stubborns and confidence in the economy is dropping. Case in point:

• In the first quarter of 2025, the U.S. economy shrank by 0.3%, shrinking for the first time in three years.
• The S&P 500 has fallen more than 7% in just the first 100 days of the current administration.
• Tariffs introduced earlier this year are starting to ripple across the country, raising prices on everyday goods and hurting small businesses.
• Consumer sentiment has also dropped nearly 10% in early 2025, with families citing fears about rising prices, job security and damaging new tariffs.

But the economic forecast does not need to be so dreary. With policies that make tax relief permanent, reduce burdensome regulations, unlock domestic energy production and reject harmful broad tariffs, America can unleash economic prosperity.

Former Trump economic advisor Stephen Moore makes this exact case in his recent op-ed in The New York Post, arguing that if the Trump Administration focuses on what has worked in the past — tax cuts, cutting regulation and unleashing American energy — the country can build on its economic success.

Congress has a clear opportunity to stabilize the economy and deliver real relief by focusing on four essential areas:

• Tax Cuts: The 2017 Tax Cuts and Jobs Act helped lift wages, lower unemployment and expand investment. According to the Tax Foundation, 82% of middle-income households received a tax cut. According to Moore, middle-class families saved an average of more than $2000. Letting those cuts expire would result in one of the largest tax hikes in history. Congress must make these reforms permanent.
• Deregulation: During the last major deregulatory push, the federal government eliminated two regulations for every new one issued. The current administration is now bumping that number up, eliminating 10 regulations for every new regulation. Reining in unnecessary red tape reduces costs, unleashes growth and strengthens American competitiveness. Moore points out that taxpayers saved a whopping $2000 from the last round of deregulatory measures.
• Energy Production: Domestic oil and gas can power both our economy and our security. A U.S. Chamber of Commerce study shows that expanding domestic energy could add $1.2 trillion to gross domestic product (GDP) and support 11 million jobs over the next decade. To reap these benefits, President Donald Trump and Congress must remove barriers to production and infrastructure development. Unleashing this energy production has the opportunity to “raise nearly $10 trillion,” for the federal government, according to Moore.
• Rejecting Broad Tariffs: Tariffs are a hidden tax on consumers and businesses alike. A Federal Reserve study from 2019 found that tariffs enacted in President Trump’s first term led to higher input costs, lower manufacturing output and reduced employment. Repeating these mistakes will only deepen economic distress.

It’s Time for Action

Tax relief, regulatory reform and affordable energy can be lifelines for millions of Americans trying to stay afloat in a shaky economy. Congress must deliver a stable, affordable and secure economic future by galvanizing the free market, unleashing American energy and rejecting tariffs that drag the country down.

This is a sound framework for success and experts, namely Stephen Moore, agree. Moore summarizes the solution best: “Continuing the trade war is a fool’s errand. The solution is within Trump’s grasp.”