During a speech on the House floor, Congressman Tom McClintock, a Republican from California’s Mother Lode region, urged the new department heads to reject government subsidies. “Just say no to subsidies,” McClintock emphasized, calling for a significant shift away from taxpayer-funded support across multiple industries.
McClintock highlighted a range of subsidies he believes contribute to market inefficiencies, including those for insurance, electric vehicles, mass transit, sugar, milk, solar energy, airline tickets, housing, tuition, healthcare, film production, and other forms of energy. “Subsidies distort the natural balance of the market,” he argued.
Using insurance as an example, McClintock explained, “Insurance reflects the true cost of risk. High premiums discourage risky behavior, such as building homes in flood-prone areas. By subsidizing these premiums, we encourage decisions that markets would naturally deter.”
The congressman warned that government intervention through subsidies not only inflates prices but also sets the stage for future demands for even larger subsidies. “Our economy thrives when costs are determined by free-market principles rather than government interference,” he stated.
This marks the beginning of what could become a broader debate about the role of government in regulating industries and supporting various economic sectors.
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