Joint Economic Committee Republicans

Federal spending programs are built on the demographics of the past, and they continue to transfer dollars from the shrinking workforce to a growing retired population. Chapter 1 finds that nearly 60% of federal transfers ultimately go to seniors, and future trends are almost certain to be increasingly problematic. Raising taxes only deepens this imbalance, whereas growing the economy and the tax base offer some potential for correcting course. jec.senate.gov/public/vendor/…

GOP Targets H-1B Visas, AI Red Tape in Yearly Economic Rundown news.bgov.com/bloomberg-gove…

In April, the fed gov ran a surplus of $215.02B. FY2026 thru April, deficits were $953.57 billion. This means 22.31% of outlays in FY2026 were not paid for by revenues & for every $ the fed gov received, it spent $1.29. In April, outlays were $622.35B & receipts were $837.34B. tinyurl.com/prj25s52

CPI surged to 3.81% in April, the highest rate in nearly 3 years & up from 3.26% in March. Core CPI, which excludes food & energy, was 2.75% y/y, compared to 2.60% in March. Y/y, energy inflation was 17.87%, a 21.61pp change while food inflation was 3.18%, a 0.42pp increase. tinyurl.com/43sb66w9

Total trade deficit in March was $60.3B, up $2.53B from February & 3% above the 12-month avg. Over the 12 months-March 2026, the US ran a total trade deficit of $700.49B. In March 2026, the US calculated $20.49B in import duties, which is 18.40% lower than the 12-month avg. tinyurl.com/4kd79bwu

What’s going on in New York is Medicaid fraud on a massive scale. More than 250,000 people are in the program. Roughly 400,000 caregivers are getting paid. Federal taxpayers cover 57% of the cost.

New York has over 8 times as many "home health aides" relative to senior citizens as Florida. What's going on? Mass Medicaid fraud. jec.senate.gov/public/vendor/…

CBO projects Medicare spending goes from roughly $1 trillion a year to more than $2 trillion in seven years. Washington is still letting fraud drain billions from one of the largest programs in the federal government.

JEC & Chairman @RepDavid are focused on rooting out fraud in Medicaid home health services. “If we seriously want to preserve Medicaid, and provide for the people most in need, we must crack down on fraud. Reaching people that need these services the most should be the top priority of these programs, not growing one of the largest jobs corps in a state. With the U.S. adding almost $87k per second to our national debt, making commonsense reforms can save tens of billions of dollars while protecting the truly vulnerable.” Read more here: tinyurl.com/mtxtbbr4

Today with @SecKennedy, I zeroed in on one of the ugliest fraud magnets in Medicaid. In New York, a program meant to care for the vulnerable has been twisted into a fraud-soaked jobs scheme, with roughly 250,000 enrollees, about 400,000 caregivers, and spending that exploded from $2.5 billion in 2019 to an estimated $12 billion in 2025. If New York’s Medicaid spending matched the national average, the savings would be almost $43 billion. That is why I introduced the Combating Deceptive Practices in Assistance Programs Act of 2026 to put real guardrails back in place.

It’s Tax Day, and Pennsylvanians are averaging $3,511 in tax cuts across the state thanks to the Working Families Tax Cuts and @HouseGOP for providing meaningful relief for families. PA-11 families deserve to keep more of what they earn.

Over 30 million seniors have claimed the $6,000 Enhanced Deduction for Seniors in the Working Families Tax Cuts. Hard-earned dollars belong in your pocket—not in the hands of DC politicians who love to go on spending sprees.

Today is Tax Day, and Pennsylvanians are keeping more of their hard-earned money because of the Working Families @TaxCuts Act. @SenateGOP delivered tax relief for working families, tipped and overtime workers, and small businesses—real wins for Pennsylvania.

This tax season, Arkansans can take advantage of a number of deductions passed in Senate Republicans’ Working Families Tax Cut.  From tax exemptions to child credits to American vehicle loan deductions and more, Arkansans will keep more of their money this year.

CEA today released the 2026 Economic Report of the President, now available here: whitehouse.gov/cea/2026-erp/

In the first half of fiscal year 2026, deficits were $1.169 trillion. This means 32.01 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spent $1.47 jec.senate.gov/public/index.c…

Headline inflation was 0.87 percent from February and 3.26 percent year-over-year. Core inflation (excluding food and energy) was 0.20 percent from February and 2.60 percent year-over-year. jec.senate.gov/public/index.c…

In January, unemployment fell in 9 states, rose in 22 & DC, & unchanged in 20. Highest was 6.7% in DC, lowest 2.2% in HI & SD. Jobs rose in 45 & fell in 6. The largest payroll job % increase was 0.5% in CA & ND. Largest decline was 0.7% in DC. tinyurl.com/nwkcunz8