Speaker Johnson explains the agenda if the Republicans retain the majority in the House of Representatives

WASHINGTON (AP) — Speaker Mike Johnson unveiled a policy agenda Tuesday that would extend approved tax cuts if Republicans win the majority next year Donald Trump President, reduces the size of the federal workforce and gives parents more choices about where to send their children to school.

Johnson emphasized five key policy points during a speech at the New York Stock Exchange. He talked about extending and expanding Trump's tax cuts, confronting China, boosting oil and gas production, expanding school offerings and reducing the size and scope of the federal government.

“The survival of the American dream depends on our victory,” Johnson said.

The Speaker and House Republicans are battling it out this election season to keep Their narrow majority in the House of Representatives only has a handful of open seats. Republicans are hoping for Trump to win over the vice president Kamala Harris The election will help them gain majorities in the House and Senate, which would give them unified control of Washington for the first time since 2018 and the ability to pass a comprehensive legislative agenda.

As the campaign continues, Johnson delivered a bleak outlook for the economy under President Joe Biden, even though the economy continues to grow solidly, inflation is falling and the unemployment rate is still low by historical standards. He spoke to an audience of Wall Street investors, traders and others who have experienced stocks Markets have reached record highs in recent days.

But Johnson said that as he traveled around the country, he met entrepreneurs who were on the verge of collapse because of high inflation, high taxes and overregulation. And he said he met moms and dads who donated plasma and set up crowdfunding pages so they wouldn't lose their homes.

“Our incredible people are hanging on right now, despite so many unprecedented challenges, but many cannot afford to keep it up much longer,” Johnson said.

The first policy priority he outlined was improved tax relief, in particular the immediate recognition of research and development costs. He also cited the need for a “strong” child tax credit, but did not provide specific numbers. He said Republican tax policy would “respect the dignity of work and not pay people more for not working.”

Trump announced a series of tax cuts during the campaign, such as extending the expiring provisions of his 2017 reform and eliminating taxes on tips and Social Security. Outside experts believe that the tax cuts proposed by Trump and Democratic candidate Kamala Harris would cause the debt to rise even faster than under current law.

Doing more to confront China and rolling back environmental regulations are a common denominator among Republicans that Johnson welcomed in his speech. On education, he said that millions of Americans have the opportunity to send their children to a school that best meets their needs, and “Republicans want to expand that choice so that every American has that opportunity.”

Johnson also emphasized reducing debt by shrinking the federal government, saying, “We will reduce the number of federal workers and eliminate a long list of non-essential jobs through the federal bureaucracy.”

“It is difficult to push back the entrenched bureaucracy and confront the system that caused the decline. “It is a difficult task, but it is a task that can be achieved,” Johnson said.