America’s Growing Economy Helping Employers, Workers, Families

Sen. Mitch McConnell (R-KY)

ARRA News Service: U.S. Senate Majority Leader Mitch McConnell (R-KY) remarks on the benefits Americans continue to see from the Republican pro-opportunity, pro-worker agenda:

“This week, I’ve discussed a number of converging reports that highlight the strength of this economy for middle-class families and job creators. U.S. retail sales just increased for the fifth consecutive month. Earlier this year, consumer confidence hit its highest level since 2000. More than a million new jobs already created in 2018. More job openings than job seekers for the first time in more than fifteen years. Over 95% of U.S. manufacturers reporting confidence in their companies’ outlook -- an all-time high. And just this morning, this announcement from the Department of Labor: In the second week of July, new claims for unemployment benefits fell to their lowest level since 1969.

“All these favorable trends are interrelated. Jay Powell, Chairman of the Federal Reserve, testified before our colleagues on the Banking Committee this week that – quote: ‘Robust job gains, rising after-tax incomes, and optimism among households have lifted consumer spending this month.’ To put it even more simply, American employers are doing better, so American workers are doing better, so American families are doing better, so American businesses are doing better.

“This is how a vibrant, growing economy works. This is what happens when Washington D.C. swallows up less of the American people’s money in taxes, imposes fewer heavy-handed regulations that make it hard to do business, and get the bureaucracy’s foot off the brake of our economy. This is among the best -- quite possibly the best -- economic moments for jobs and opportunity that Americans have seen in recent memory. The policies of this united Republican government helped bring it about. And they are helping sustain it.

“Earlier this week, the Wall Street Journal reported, quote: ‘Tax cuts appear to be propelling robust consumer demand. Many households are experiencing less withholding from their paychecks thanks to the tax overhaul.’ According to a recent survey, fewer than 1 in 5 American manufacturers now say an unfavorable climate due to things like taxes and regulations is a primary obstacle to their business. Back in 2013, in the Obama economy, more than two-thirds of manufacturers said that.

“And all across the country, as job creators of all sizes have announced worker bonuses, pay raises, and business expansions, many say -- loud and clear -- that tax reform is what made it possible. The American people voted. Republicans kept our promises. So, now, middle-class families are seeing the effects of the pro-growth policies they asked for in November 2016. And the whole world is seeing what the American people can accomplish when their government gets off their backs.”
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