Johnson touts Trump tax cuts, economic record during policy pitch

In an address delivered on Tuesday afternoon at the New York Stock Exchange, U.S. House Speaker Mike Johnson, R-La., pitched a vision for a legislative agenda under a second Trump administration.

Johnson began by pointing out the financial hardship faced by many Americans who are struggling to pay for household goods and make home and car payments, due to the effects of inflation. He continued by appealing to policy directions made under Trump’s first term. He pointed to foreign trade, tax cuts, and more which he believed had strengthened the United States’ position domestically and internationally. Johnson identified five key areas where he believed Congress would work to continue along those lines in 2025 if Republicans took control of the Senate, White House, and House of Representatives.

Johnson promised to streamline tax policy, to extend tax cuts, and in so doing spur investment and opportunity. He argued that by prioritizing the United States’ domestic economic well being, Congress could continue bipartisan work to make America more competitive with its adversaries. Thirdly, Johnson argued that Trump and Republicans would unleash American energy by rolling back regulations stemming from the Green New Deal. Johnson promised to enact school choice policies and create new measures of accountability for institutions of higher education. And finally, the speaker stressed a need to pursue fiscal responsibility for Congress, a longtime Republican goal.

“The evidence is clear that we know what it takes to have a vibrant American economy,” Johnson said. “Republicans have a plan. When Republicans retake the White House, the Senate, and grow our House majority, we will introduce and pass a comprehensive economic agenda based on the successful plan we implemented under President Trump’s first administration that will restore the American economy back to full health.”

His remarks came just hours before the first and only vice presidential debate on Tuesday between Minnesota Gov. Tim Walz and Sen. J.D. Vance, R-Ohio.

The general election, which takes place on Tuesday, November 5, is just five weeks away.

What’s the context? Currently, Republicans hold a four-seat majority in the House of Representatives. Growing that majority would enable the GOP to pursue more of its policies but would also give Johnson more leeway against party outliers who have frustrated many of his plans as speaker. It only takes a handful of dissenters to tank a party-line vote—something the most conservative wing of the GOP has used repeatedly to force Johnson to heed their input. Republicans have defeated 14 votes put to the floor by their own party’s leadership in the 118th Congress.

Johnson faces an uphill sprint to the finish line. Vice President Kamala Harris’ rise to the top of the Democratic ticket has propelled fundraising at the Congressional level. Between 2023 and 2024, Democrats have raised $2.5 billion through the ActBlue fundraising political action committee. Republicans, by contrast, have raised $920 million through their equivalent fundraising committee, WinRed.

Why make a public appeal to policy and why now? Where Democrats have enjoyed a distinct momentum advantage, Republicans have a key advantage over Democrats when it comes to policy.

Polling from Quinnipiac University on Tuesday afternoon found that voters in North Carolina and Georgia—both critical swing states—believe Republicans and Trump have the policy edge on key issues like the economy, immigration, and international conflicts.

Dig deeper: Congress just left town. But some of the country’s biggest questions—like how to keep the government open—remain unanswered. Read my report on where the spending picture currently stands.