Fighting Big Government
There are three huge impediments negatively affecting our economy right now: out of control spending, burdensome regulations and red tape, and an overcomplicated tax code.
Washington must be more responsible with taxpayer dollars, funding only true national priorities and ending the practice of trading special favors and pet projects. I have also cosponsored legislation creating a Balanced Budget Amendment to the Constitution. We must restore some common sense to our spending habits, which will in turn allow for private sector job creation.
The next step is to repeal the mountains of red tape blocking job creation throughout our nation. For some reason, as many politicians cross the Potomac River, they start to believe the federal government creates jobs. That is simply not true; but what is true is that the federal government has the power to destroy jobs.
To help combat these job-destroying rules and regulations, I became an original cosponsor of the Regulations from the Executive in Need of Scrutiny (REINS) Act, which provides Congressional oversight over any major rule or regulation issued by Washington bureaucrats. Agencies pushing their own agenda should not be allowed to shape the future of our economy, and the REINS Act will ensure that doesn’t happen.
The current regulatory environment in this country seems to fit a political agenda more than anything else, regardless of the economic roadblocks it creates. I will fight to create a regulatory environment where businesses can prosper, and the free market can work without the heavy hand of government intervention.
Finally, as a small business owner, I understand the challenges posed by our nation’s burdensome tax code. With a tax code more than ten times longer than the Bible, it is clear reform is needed, and the tax burden on American families is far too great.
Lower taxes mean more dollars in the pockets of American families and job creators, which means more money being put back into the economy and more money for businesses to grow. This will, in turn, lead to increased revenue.
It is time to put money in the private sector and not in the hands of the government. There are some simple steps to be taken, such as repealing the death tax. It is time to restructure the tax code to one that is workable and advocates growth, savings, investment, and economic freedom.
The American people know how to create jobs and take advantage of opportunity – what Washington should be doing is simply getting out of the way. I will continue fighting to make that happen.
Wednesday | April 5, 2017
After reports showed the IRS seized and refused to return assets to law-abiding citizens, U.S Senator Tim Scott (R-SC) introduced the Restraining Excessive Seizure of Property through Exploitation of Civil Asset Forfeiture Tools (RESPECT) Act.Read More
Monday | January 23, 2017
U.S. Senator Tim Scott (R-SC) issued the statements below following President Trump signing three Executive Orders this morning - a federal hiring freeze (exempting the military), reinstating the "Mexico City" policy regarding federal funding for abortions, and withdrawing from the Trans-Pacific Partnership (TPP).Read More
- Saturday | January 21, 2017
Friday | January 13, 2017
U.S. Senator Tim Scott (R-SC) released the following statement after the conclusion of Dr. Ben Carson's confirmation hearing in Senate Banking CommitteeRead More
Wednesday | January 11, 2017
Washington - Early this morning, U.S. Senator Tim Scott (R-SC) voted to pass the 2017 budget resolution, the first step to repealing and replacing Obamacare.Read More
Tuesday | November 1, 2016
Senators Scott, Chairman Shelby call for Secretary of Housing and Urban Development to address substandard housing conditions
Senator Tim Scott (R-SC), Chairman of the Banking Committee Subcommittee on Housing, Transportation, and Community Development, and Chairman Richard Shelby (R-AL), Chairman of the Committee on Banking, Housing, and Urban Affairs, are demanding Housing Secretary Julian Castro provide answers for the appalling conditions that persist at some of our nation's federally funded public housing properties.Read More
Tuesday | October 25, 2016
Charleston, SC - Today, U.S. Senator Tim Scott (R-SC) was recognized by the National Taxpayers Union (NTU), a nonpartisan citizen advocacy group, for having a strong voting record on behalf of lower taxes, limited government, and economic freedom. Senator Scott is one of the few members in Washington whose deeds are worthy of the "Taxpayers' Friend Award" for 2015.Read More