NE Valley Times

U.S. Representative David Schweikert (AZ-01) addressed the House floor, discussing solutions to rising costs and declining wages in America. The Consumer Price Index for November indicated a 2.7 percent increase compared to the previous year, while wages remain low.

Rep. Schweikert highlighted the need for a modernized immigration system that could boost productivity and wage growth amid shrinking population and birth rates. He questioned why educated individuals are sent back to their countries, thus competing with the U.S., rather than contributing domestically.

In his speech, Rep. Schweikert emphasized fiscal responsibility: "In the last fiscal year, our borrowing represented about 6.4 percent of the entire economy... If we actually find a way to pay for them and still extend those tax reforms, we get economic growth."

Addressing living costs, he noted, "Here’s the reality: if the president is looking at you in the camera, and telling you [we have] the best economy ever– that’s not factual– but why don’t you feel it? It’s because much of America is poorer today than the day President Biden took office."

He also stressed preserving research and development expensing from 2017 tax reform: "One of our economists is trying to model what would happen if you said we’re going to do expensing of research and development... You may get a multiplier effect."

Rep. Schweikert serves on several committees including as Chairman of the Oversight Subcommittee on Ways and Means Committee.