American Economy Gaining Momentum

Floor Speech

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Mr. MEUSER. Mr. Speaker, the American economy is gaining momentum, but the independent Federal Reserve is, regrettably, not adding the energy needed to abet this growth potential.

After 4 years of inflation caused by excessive government spending and an all-out assault on U.S. energy, our private-sector economy is now in significant recovery, and it truly is only the beginning.

Tariffs are realigning supply chains here at home. By supply meeting and exceeding demand, this will continue to lower inflation.

Additionally, the OBBB makes bonus depreciation, the small-business deduction, and the R&D tax credits permanent, sharpening our competitive edge and incentivizing capital investment.

The table is set for growth. However, nearly $1 trillion in annual interest payments hang over our heads.

Here is where the Fed's actions can make an enormous difference. Due to the Biden administration's highly inflationary policies, we saw inflation soar to over 9 percent, 20 percent over the 4-year period. Those policies and inflationary rates that came from them forced the higher interest rates by the Fed to as high as 5.5 percent.

The recent CPI report, however, has inflation at 2.4 percent, and PCE, personal consumption expenditures, the Fed's favorite indicator, at only 2.1 percent. Yet, the Fed has not moved much and has left interest rates as high as where they currently are, 4.5 percent.

Mr. Speaker, a 1 percent reduction of interest rates to 3.5 percent would add $290 billion in GDP growth while also delivering $200 billion of savings in the service we pay on our debt. That is an improvement of $490 billion to boost our economy.

Lower rates today will advance housing, an industry with a 3-to-1 multiplier, spur capital investment, and unlock durable good purchases, including cars and household appliances. Unfortunately, fear-mongering by the media drove consumer sentiment down despite, in fact, the lower inflationary data.

Mr. Speaker, I call upon the Fed to choose growth over apprehension, as the President is urging. Continue Building World's Strongest Military

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Mr. MEUSER. Mr. Speaker, I rise today as we are voting on the fiscal 2026 Military Construction, Veterans Affairs, and Related Agencies Appropriations Act, an essential bill that demonstrates our unwavering commitment to our veterans, military families, and national security.

This is a major piece of legislation, totaling $453 billion, that ensures we support those who have worn the uniform and continue building the strongest military in the world. This bill fully funds veterans' medical care, backing up the words we often say on this floor and throughout our districts that we support our veterans and thank them for their service.

Let me quickly walk through what is in this bill: $453 billion in total funding, $150 billion in discretionary funding, $300 billion for mandatory programs, $131 billion to fully fund veterans' medical care, $2 billion for military family housing, and over $1.2 billion for Guard and Reserve construction facilities.

This supports President Trump's initiative to end veteran homelessness through the Bridging Rental Assistance for Veteran Empowerment program, protects veterans' Second Amendment rights, and invests heavily in general military construction.

I proudly represent more than 45,000 veterans in Pennsylvania's Ninth Congressional District. When I include their families, many of whom have served or are preparing to serve, well over 100,000 Pennsylvanians just in my district alone will be directly impacted by what we do today. We also have 800,000 veterans throughout the Commonwealth of Pennsylvania.

Mr. Speaker, our Lebanon VA in my district was ranked among the top VAs in the Nation for many years in a row. That is something we certainly take pride in and something this bill supports.

I am also proud to represent Fort Indiantown Gap, the second largest Army helicopter training facility in the U.S. In total, the Gap trains more than 130,000 military personnel each year.

This bill not only honors our past military heroes, but it also helps inspire the next generation to serve. We are seeing that patriotism grow. Recruitment is way up, thanks in part to the new culture of strength and support for our military under President Trump's leadership.

Mr. Speaker, I urge my colleagues to vote ``yes'' on this critical appropriations bill. It reflects our values, strengthens our defense, and ensures we never waver in our duty to those who have sacrificed for our freedom.

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