Republican presidential candidate Nikki Haley became the latest 2024 White House hopeful to lay out an economic plan aimed at relieving financial burdens during a major policy speech at the New Hampshire Institute of Politics at Saint Anselm College on Friday.
During her speech, Haley primarily slammed President Joe Biden‘s economic policies for harming American families and businesses while China continues growing its global influence and threatening the United States’s standing as leader of the free world.
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“Today, we aren’t moving toward freedom anymore. In fact, we’re running away from it. Joe Biden is building the biggest government in American history. He’s swapping freedom for socialism. No one is happier than Communist China,” said Haley in a roughly 30-minute speech. “Few things are more exciting for Xi Jinping than the prospect of four more years of Joe Biden. America will get weaker. China will grow stronger.”
Haley’s “Freedom Plan” includes three core tenets: cutting taxes on the middle class, reducing inflation and debt by cutting federal spending, and limiting the government’s power. Chief among the policies Haley is touting is a call to end the federal gas and diesel tax which she said would benefit families. “That’s 18 cents per gallon in savings on gas and 24 cents on diesel that will help families struggling with record high gas prices,” she said. “And we don’t need a federal gas tax to fund our roads. We’ll keep building our roads with the trillions Washington still has. And we’ll start diverting money to green giveaways. Road money should build roads, not bike paths and hiking trails.”
She also reiterated her support for reforming Social Security and Medicare, a stance that puts her at odds with some members of the GOP. “Democrats and Republicans don’t want to admit it. But Americans deserve the hard truth. Entitlement spending is unsustainable,” Haley said. “We need reform. The longer we wait, the harder it gets and the more painful it will be. I will protect those receiving Social Security and Medicare, that’s a promise.”
But for those under 40 years of age, Haley wants to raise the retirement age citing longer lifespans as part of her reasoning. “If we don’t get out of this 20th century mindset, Social Security and Medicare won’t survive the first half of the 21st century,” she added.
The former U.N. ambassador’s speech comes as inflation rose 1.6% in August, according to the Bureau of Economic Analysis, lawmakers on Capitol Hill struggle to pass legislation to fund the government, and as the nation’s debt hit $33 trillion for the first time. Rising grocery, gas, and housing costs are a top concern for the public, though the president has championed the results of “Bidenomics” as part of his messaging appeal to the public as he seeks reelection.
Haley expanded her criticisms beyond Biden and knocked members of her own party, including former President Donald Trump, for increasing the federal debt. “Joe Biden is proving that reckless spending is the road to socialism. But he’s not the only culprit,” said Haley. “Joe Biden, Donald Trump, and Barack Obama added more to our national debt than the previous 42 presidents combined. They tripled the debt from $10 trillion to $33 trillion.”
And as Congress inches closer to a federal shutdown, Haley noted that both Republicans and Democrats contributed to the dysfunction. Agreeing on spending levels for fiscal 2024 is one of the several disagreements in Congress over passing a stopgap measure to fund the government beyond the Sept. 30 deadline. Yet, Haley claimed that her administration would force Congress to balance the nation’s budget or go without pay. “Every family and small business has to balance a budget. I balanced the budget as governor of South Carolina,” she said. “Why is Congress the only place that refuses to do that? I won’t rest until they do, and I will veto any budget that doesn’t address our debt crisis.”
“We elect our lawmakers to make the hard choices. It’s time they did their job. And if Congress fails to pass a budget, they will fail to get a paycheck. No budget, no pay,” Haley later said.
Haley also claimed she would veto any budget that doesn’t return the nation to pre-COVID spending levels, citing the nation’s recovery from the pandemic as a reason to lower spending levels.
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Two signature pieces of legislation under the Biden administration were noted by Haley for increasing corporate welfare, including the Inflation Reduction Act and the American Rescue Plan. Haley stated she would eliminate Biden’s $500 billion in green energy subsidies. “Joe Biden has created a political subsidy economy. That’s what Bidenomics really is,” said Haley. “The government is taking money from the middle class and giving it to everyone else.”
The speech in Manchester comes before next week’s second GOP debate in which Haley will once again faceoff against her fellow Republican rivals at the Ronald Reagan Presidential Foundation and Institute in Simi Valley, California. Her breakout performance at the first GOP debate last month led to a rise in some polling and fundraising, and another standout debate performance could help the South Carolinian politician’s campaign build momentum.
