“This takes a tax system that was the worst in the industrialized world, and gives us a tax system that we think is in the top three of the industrialized world’s tax systems. That means more jobs in America, more opportunities in America, businesses coming back to America, bringing capital back to America, expanding, and that is a phenomenally good thing.”
For all those phenomenally good things about tax reform, Democrats’ rhetoric about it has sounded like something from a spec script for a bad Star Wars sequel. ‘Armageddon.’ ‘Dark cloud.’ ‘Unpatriotic.’ ‘The end of the world.’
But here are some facts we learned just this week:
- 3.9 percent: The nation’s unemployment rate has fallen to its lowest level since the Clinton administration. “The job market hasn’t been this good for a very long time,” CNN noted. “Economists expect that low unemployment will lead to increasingly big pay bumps for workers,” according to The New York Times. One analyst for a jobs site told The Washington Post: “We’ve seen great movement in jobs creation.”
- 3.25 percent: Hourly wages for small business workers grew at an annual rate of 3.25 percent in April—the highest rate in more than two years, according to a new report. And optimism among small businesses is at record levels. “Tax reform has been described as a game-changer, and they’re investing back in their businesses, and you can see it,” a Bank of America official told USA TODAY.
- On Speaker.gov: An Economy In Which Small Businesses Can Thrive
- 87 million: We are now tracking that in at least 48 states, and the District, utility bills already have or will go down because of tax reform. This means that more than 87 million customers across the country—so far—will save money on these bills. Another big win for consumers and taxpayers.
- On Speaker.gov: 48 States Seeing Lower Utility Bills Following Tax Reform
- 27: On Thursday, the governor of New Hampshire nominated 27 areas of the state to be Opportunity Zones, joining dozens of governors who have already done the same. Part of the new tax law, Opportunity Zones bring help to economically distressed areas by providing tax incentives for private investment. “We definitely need new industry in town,” one thrift store volunteer in Franklin told New Hampshire Public Radio. “We have many storefronts that are empty.”
Indeed, tax reform is helping many middle-income families live long and prosper. (Nope, wait, wrong one, sorry.)
With the help of tax reform, the Force is strong with this economy. There you go. Thanks for reading.