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    The Baylor Lariat
    Home»News

    Sessions, Perot take the stage to defend capitalism, highlight economic growth

    Tripp HendersonBy Tripp HendersonOctober 8, 2026Updated:October 8, 2026 News No Comments4 Mins Read
    Rep. Pete Sessions and Ross Perot Jr. have a discussion on the country at the State of the Nation banquet at the Baylor Club Thursday. Caleb Garcia | Photo Editor
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    By Tripp Henderson | Staff Writer

    Ross Perot Jr., chairman of the U.S. Chamber of Commerce’s board of directors, announced the organization’s endorsement of Rep. Pete Sessions in the upcoming November election Thursday at the Greater Waco Chamber of Commerce’s State of the Nation Luncheon.

    Local business leaders, elected officials, chamber members and Waco citizens gathered at the Baylor Club to hear from Sessions and Perot about the state of the economy, conservative economic policies and Texas’ role in national growth.

    Congressman Pete Sessions speaks on the state of the country at the State of the Nation banquet at Baylor Club on Thursday afternoon. Caleb Garcia | Photo Editor
    Congressman Pete Sessions speaks on the country's state at the State of the Nation banquet at Baylor Club Thursday. Caleb Garcia | Photo Editor

    Sessions argued that strong conservative economic policy, border security and a crackdown on fraud have helped position Texas as a national leader.

    “This is my report to you on the state of the nation: We are strong, we are ready for tomorrow and Texas is the beneficiary of conservative economics, of entrepreneurship and perhaps most of all of capitalism,” Sessions said.

    A central idea in Sessions’ speech was that Texas, as “the greatest state in [the] nation,” plays a role in national success and that, for “America to succeed, Texas must succeed.”

    In his speech, Sessions touted several areas where he argued his office, along with the Trump administration, had succeeded, starting with getting Americans back to work.

    The U.S. Bureau of Labor Statistics reported in the spring of 2026 that roughly 23% of Americans telework. Before COVID, that number was lower at 3 to 6%, according to Pew Research.

    Sessions said the tax code can incentivize employment, pointing to provisions on taxes on tips and overtime pay, as well as an increased standard deduction.

    “We incentivize people to go to work,” Sessions said. “That’s what America is about.”

    Additionally, Sessions focused on protecting the American currency and said the dollar is facing significant challenges.

    “I will tell you that as a senior member of financial services, we’re in trouble if the American dollar is not the largest, most well-thought-out currency in the world,” Sessions said.

    Sessions also highlighted the importance of protecting the border and pointed to the difference in illegal immigration numbers from 2022 to 2026, citing a near 96% decrease in U.S. Border Patrol Apprehensions.

    Lastly, Sessions argued that government fraud and improper payments remain a significant problem and that it has “to be stopped.”

    Perot joined Sessions for a fireside chat later in the luncheon, moderated by Greater Waco Chamber board chair Todd Moore.

    Perot announced the U.S. Chamber’s endorsement of Sessions, whom the organization also endorsed in the 2024 House election. His message mirrored Sessions’ emphasis on capitalism and Texas as an economic model for the rest of the country.

    Perot called Texas the “model for the United States,” and said residents often “take too much for granted.” He pointed to the influx of individuals and companies into Texas as evidence of the state’s economic growth.

    “You have 1,500 people a day moving into our state,” Perot said. “We have had incredible growth … 151 corporate headquarters have moved into North Texas in the past 10 to 15 years.”

    Furthermore, Perot turned his attention to what he called the “data centers boom.” He said that “every community needs to figure out how to [build] responsible data centers.”

    His comments come as Texas communities debate over how data centers may affect prices, pollution and water consumption. Supporters argue that superintelligence infrastructure can bring growth and revenue, while critics point to environmental concerns and heightened utility prices.

    Both Perot and Sessions criticized socialism and argued that a free-market economy has been a key driver of America’s growth. Perot said that the difference between capitalism and socialism is “black and white, and we have to show people [capitalism] works.”

    Polling has shown differing attitudes toward socialism. A recent Cato Institute poll shows that 53% of Generation Z view socialism favorably, and AP reported that 66% of all Democrats view socialism in a favorable way.

    In light of this, Perot said, “This is our country, and we have always had to fight for what we believe in.”

    Looking ahead, Perot said he believes Dallas-Fort Worth, Waco, Austin, Houston and San Antonio are evolving into one of the “great mega regions of this world.”

    Chamber of Commerce economy election election 2026 Pete Sessions politics Ross Perot Jr. State of the Nation
    Tripp Henderson

    Tripp Henderson is a freshman from Austin, Texas, pursuing a double major in Political Science and Business Management. He is a fly-fishing-obsessed sailor with a knack for getting shipwrecked. He loves sports, music, film, road-tripping in a van, hanging out with friends and family, and offering his unsolicited political commentary to anyone who accidentally makes eye contact.

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