President Obama famously said in 2016 that President Trump would need a “magic wand” to get the economy to do what he was promising. It turns out he didn’t need a wand; just sensible economic policies that needed to be put in place.
I was proud to support common-sense economic policies like the tax cuts which greatly benefitted the middle class and our small businesses. On top of that, we’ve gotten rid of numerous regulations that were crushing our economy with help from the President whose administration is doing the same at the agency level.
Can you guess what happened as a result of those “magic” economic policies?
On the national level, we’ve seen over 4 million new jobs created, more Americans than ever are employed, unemployment is incredibly low, poverty rates have fallen and we’re seeing the highest GDP growth rate in 14 years.
In Missouri alone, it’s estimated that the Tax Cuts and Jobs Act will lead to the average household receiving a 7.1% increase in their income! Missourians have also seen a utility rate cut for 1.4 million customers and the lowest unemployment level since the year 2000.
The optimism and confidence ratings are through the roof for small businesses. The bottom line is that things are going very, very well and across the country, the positive effects of a booming economy are being felt on a daily basis.
So where do we go from here?
America needs to keep moving forward. The numbers cannot be ignored and the people I talk to in North Missouri back up the statistics every single day.
Last month, I voted to keep the tax cuts in place permanently. Along with that, all of the important deductions and credits would be permanent as well. And new investment options for families would allow them to save and grow the additional money they are seeing as a result of the tax cuts. Making sure the middle class and our small businesses continue to thrive will only lead to more economic growth.
I’ve been saying this is what the economy needed for a long time but getting lower taxes and less regulation in place wasn’t easy. Yet, it works. And it turns out it wasn’t magic. Just common sense. It’s that kind of common sense I hope we see more of in the years to come.