Republican Tim Sheehy addressed his economic plans to keep the federal government "in its lane" after launching a bid for Montana's Senate seat held by Sen. Jon Tester (D-MT).

The Bridger Aerospace CEO and former Navy SEAL spoke on Fox Business on Wednesday about strengthening the economy, which Sheehy said is a big part of his campaign.

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"[Montanans] don't want more government in their lives, whether it's state government or federal government. They want to be left alone to live their lives," Sheehy said.

Sheehy called for less oversight from the federal government, stating he wants to "empower our businesses to succeed."

When asked what President Joe Biden's economic policies do for Montana residents, Sheehy pointed to "record inflation" negatively affecting workers who face increased fuel prices and have to drive for long stretches.

"So fuel prices impact our farmers and ranchers and our communities a lot. Families will be spread across the state, where we have only about a million people in the fourth largest state in the country," Sheehy said. "So a lot of land mass that people have to drive back and forth."

Sheehy emphasized that "people are frustrated" with stimulus and inflationary policies that have affected Montana.

"Living costs have skyrocketed in the state, especially during our disastrous COVID policies nationwide, where everyone was fleeing the cities where they were locked down," Sheehy said, adding there was an influx of people who moved to Montana during the pandemic, driving up business costs and hiring staff.

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Sheehy entered the race for Senate this week, which is anticipated to be one of the most closely watched in the country in 2024, by attacking the Democratic Party. In his campaign announcement, Sheehy denounced Democrats' agenda "of inflation, open borders, criminals over cops, drugs and violence in our communities, and a 'woke' culture impacting our classrooms and military bases."

Tester is Montana’s lone statewide-elected Democrat, making his seat a GOP target as Democrats hold a 51-49 majority in the Senate.