Sununu’s Fiscal Policy Contradictions: A Closer Look
John Sununu, a Republican and former U.S. Senator from New Hampshire, currently running for Senate again, has emphasized reducing the national debt as a priority. Despite this stance, his past support for certain legislation has raised questions about his commitment to fiscal conservatism.
In a recent campaign ad, Sununu reiterated his focus on cutting the national deficit, stating, “People definitely want to see us cut the deficit. Every year we need to make sure we’re doing the right things: keep the economy growing, control spending, and keep that deficit going down.”
However, Sununu endorsed the One Big Beautiful Bill Act (OBBB), a tax law criticized for benefiting wealthier individuals and large corporations. He argued that the act would reduce the deficit and dismissed criticisms as “liberal math.” Contrary to his claims, the nonpartisan Congressional Budget Office has projected that OBBB will add approximately $3.4 trillion to the deficit over a decade, with the Bipartisan Policy Center estimating a $4 trillion increase in national debt, including interest costs.
Sununu also supported the 2017 Tax Cuts and Jobs Act (TCJA) under President Trump, which he praised in a CNBC op-ed for its potential to enhance business competitiveness. The Tax Policy Center predicted that this law would inflate the deficit by $1.5 trillion by 2034.
Notably, Sununu holds financial interests in sectors that benefited directly from these laws, particularly oil and gas. The OBBB granted substantial new subsidies to fossil fuel producers, while the TCJA facilitated expanded drilling in protected areas. Sununu has investments up to $50,000 in ExxonMobil and $65,000 in Shell.
The pharmaceutical industry also saw significant advantages from these policies. OBBB exempted some drugs from Medicare’s price negotiation, anticipated to cost the government an additional $5 billion. Following TCJA’s $6 billion tax cut for the industry, Sununu’s portfolio includes up to $425,000 in pharmaceutical stocks, including Pfizer and Merck.
Sununu’s legislative history reflects similar patterns. While in the House of Representatives, he supported the Bush tax cuts, which primarily advantaged the top 1% and were projected to increase the deficit by $1.7 trillion, according to the Brookings Institution.
Endorsed by former President Trump, Sununu will face Democratic Rep. Chris Pappas in the upcoming November election.
