Economy

Congressman Jackson has been working to build an economy that prioritizes equitable growth and opportunity. He believes it is a duty to advance the economic interests and not the interests of billionaires. During his first term in office, he supported measures to fight inflation, raise the minimum wage, and support small businesses.

He cosponsored the Shrinkflation Prevention Act, which aims to hold corporations accountable for the deceptive business practice known as "shrinkflation", where a corporation maintains the price of a product while reducing the size or quantity of the same item. This bill would require the Federal Trade Commission (FTC) to classify this as a deceptive business practice and allow federal and state entities to bring civil suits against companies that engage in these practices. I will continue to support this vital legislation that will prevent corporations from taking advantage of you.

He also cosponsored the American Stability Act, which modernizes the concept of the federal minimum wage by delivering the largest wage increase and tax break cut for the working class in U.S. history. This legislation replaces the concept of a static minimum wage with a "stability wage" that is sufficient to cover basic living expenses such as housing, healthcare, and food. And, the Emerging Business Encouragement Act of 2023, which directs the Small Business Administration (SBA) to establish criteria and procedures for small businesses to be designated as emerging business enterprises. The bill provides various benefits to such enterprises, such as waiving various loan fees and requiring federal agencies to award at least 3% of contracts in each fiscal year to such enterprises.