Back in 2017, when Congress passed the Tax Cuts and Jobs Act, I proudly voted in favor. I believed in those tax cuts then, and I still do today. In fact, I support making them permanent. I also back the new tax-cutting proposals included in the current budget bill—like eliminating taxes on tips.
But there’s a major red flag buried in this legislation: a staggering $4 trillion increase to the national debt ceiling. That number should sound alarms. It’s a sign that Washington is not just ignoring its spending problem—it’s doubling down. If we fail to change course, the consequences will be devastating: a mountain of debt followed by a tidal wave of tax hikes.
To truly unleash the power of the American free enterprise system, Congress must extend tax cuts—without saddling the country with trillions more in debt.
The tax cuts passed in 2017 weren’t some academic theory or economic experiment. They had real-world impact. Workers, families, and small business owners got to keep more of what they earned. Congress doubled the standard deduction, lowered both individual and corporate tax rates, and created incentives that encouraged growth and investment.
The results were undeniable. Unemployment hit historic lows. Wages climbed. Small businesses flourished. The economy surged just as free-market advocates have long predicted: lower taxes set the stage for private-sector growth, job creation, and innovation. Americans benefitted because they—not Washington—had greater control over how to spend their hard-earned money.
And yet, these successes are now under threat.
Unless Congress acts, key parts of the 2017 tax cuts will expire at the end of 2025. That would amount to a tax hike for millions of Americans, undoing years of progress. I’ve consistently called for making these cuts permanent—not just because it’s economically smart, but because it’s morally right. The government has no moral claim to a worker’s paycheck. That money belongs to the people who earned it.
Still, we can’t ignore the elephant in the room: the national debt. It currently stands at a jaw-dropping $36 trillion and counting. The Congressional Budget Office estimates that the federal government will spend around $2 trillion more than it brings in this fiscal year alone.
How will that gap be filled? Borrowed money—money that will eventually have to be repaid through higher taxes. That future tax burden will crush families, stall the economy, and limit opportunities for generations of Americans.
And it gets worse.
The House budget includes a $4 trillion debt ceiling hike. The Senate? They’ve proposed $5 trillion. These aren’t just numbers—they’re admissions that Washington has no intention of getting spending under control. Lawmakers are choosing the path of least resistance: borrow more, spend more, repeat.
But there’s a price to pay for that recklessness.
Americans will bear the cost of this fiscal irresponsibility. They’ll face higher taxes—not to fund essential services, but to satisfy creditors. Prices will rise as inflation chips away at purchasing power. Job growth will slow as businesses struggle under heavier burdens.
Put simply, today’s unchecked spending is mortgaging tomorrow’s prosperity.
Throughout my time in the Senate, I’ve proposed solutions to get us back on track—budgets that balance within five years, cuts to wasteful or duplicative programs, and a rethinking of foreign aid that sends U.S. dollars to countries that often work against our interests.
We need to extend the 2017 tax cuts. We must strip the trillions in new debt from this budget. Doing so would send a clear message: the U.S. is ready to get serious about economic renewal and fiscal responsibility.
I’ve always believed in free markets, personal freedom, and limited government. That’s why I cannot and will not vote for a budget that contains the largest debt ceiling increase in American history. Approving it would be endorsing more borrowing and condemning future generations to an era of higher taxes and economic stagnation.
The road ahead is obvious: Cut taxes. Cut spending. End the addiction to debt. Only then can we reignite American prosperity, protect individual liberty, and secure the promise of the American dream.
