House Speaker Mike Johnson, R-La., detailed his economic agenda Tuesday, outlining a bold vision for the first 100 days of a potential second Trump administration should Republicans secure unified government control in 2025, The Hill reported.
Johnson's address at the America First Policy Institute emphasized prioritizing U.S. investment, tax policy reforms, and a shift away from green initiatives championed by Democrats while discussing his vision for the early days of a GOP-controlled government, followed by a conversation with former Trump economic adviser Larry Kudlow.
Johnson expressed confidence in the possibility of Republicans securing the presidency and Congress in 2025.
"We've been working very aggressively to put together a very aggressive first 100 days agenda for the Congress and in the days beyond," Johnson said.
While acknowledging the need to focus on the present, he added, "We got a lot to do between now and Election Day. But I believe that what I'm seeing on the ground is going to happen, that we are going to have this opportunity. So, we got to be prepared on day one."
Johnson's legislative efforts aim to swiftly advance conservative policies to former President Trump's desk if he returns to office. The Speaker has been discussing plans with Senate Republicans to utilize budget reconciliation, which allows specific legislation to pass with a simple majority, bypassing the Senate filibuster and potential Democratic opposition.
Johnson's office released a one-page economic agenda summary outlining several key objectives. One of the primary goals is to extend tax cuts passed under the 2017 Tax Cuts and Jobs Act. Johnson emphasized a commitment to restoring immediate expensing for research and development costs and incentivizing U.S. intellectual property ownership through strong Foreign Derived Intangible Income (FDII) provisions.
Additionally, the plan calls for reinstating the 100 percent expensing provision, which began phasing out in 2022. Johnson voiced strong support for a "robust Child Tax Credit," highlighting that, unlike Democratic proposals, the GOP's approach would ensure tax policies encourage work and do not "pay people for staying out of the workforce."
Johnson framed his economic vision as part of a broader "America First" policy, stressing the importance of domestic investment and stewardship of the nation's resources. "It's about being good stewards of what God has given us," he explained. "You take care of your own house before you take care of the neighborhood. And people have lost sight of that."
The plan also involves eliminating green initiatives advanced by Democrats, which Johnson described as wasteful. Additionally, he called for reforming the education system and rooting out government inefficiency to address what he sees as excessive spending.
Johnson's remarks set the stage for Republicans' strategy leading into the 2024 election cycle, focusing on tax policy and economic growth.