Lafayette Reporter

Senator John Kennedy from Louisiana has voiced his concerns regarding the current economic challenges in the United States, particularly focusing on inflation under President Joe Biden and Vice President Kamala Harris. In a statement, Kennedy emphasized the need for economic growth to combat rising prices affecting Americans.

"We've got to grow our way out of these high prices," he stated, suggesting that stimulating the economy is crucial for increasing income and wages. According to Kennedy, this would enable people to afford products that have become more expensive due to what he describes as "President Biden and Vice President Harris's inflation."

Kennedy referenced the Tax Cuts and Jobs Act as a successful measure in boosting the economy during former President Donald Trump's administration. He explained, "The idea was that if we let people keep more of their money, they would invest it and stimulate the economy and grow it, and we'd all be better off—and it worked."

Highlighting economic growth statistics from Trump's presidency, Kennedy noted that "over the first three years of President Trump's term, our economy grew between 8 and 9% after we passed the Tax Cuts and Jobs Act." He added that median household income increased by $5,000 over two years following its implementation.

To further address economic challenges, Kennedy advocated for reducing taxes and regulations. He argued, "If you want to increase wealth, you've got to increase output. How do you increase output? By reducing taxes and reducing regulation."

Kennedy concluded with optimism about overcoming high prices through renewed economic growth: "We're going to beat these high prices by getting America growing again and getting wages growing again."