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Another Week of Positive Economic News

Another Week of Positive Economic News | The White House

Small businesses and job-seekers have record high confidence and optimism as the benefits of the President’s tax cuts are already being experienced by American workers and families.

AMERICANS FOR TAX REFORM: TWO MILLION Americans (And Counting) Will Receive Tax Reform Bonuses

“Tax Cuts and Jobs Act Bonus Ticker: At least 2,000,000 Americans (and counting) will receive special bonuses from their employer thanks to tax reform.”

GALLUP: Americans’ Optimism about Job Market Hit Record High In 2017

“Americans’ optimism about finding a quality job averaged 56% in 2017, the highest annual average in 17 years of Gallup polling and a sharp increase from 42% in 2016. Coinciding with rising optimism, the U.S. unemployment rate fell from an average 4.9% in 2016 to 4.4% in 2017, the lowest rate since 2000.”

BUSINESS INSIDER: ‘The Engine of The Economy Roared Back To Life’: US Small-Business Confidence Hit A Record High In 2017

“Small-business confidence hit a record high in 2017, according to the National Federation of Independent Businesses….The index came in at 104.9 in December. The NFIB says the index’s average monthly level last year was 104.8, the highest in the history of its survey. Juanita Duggan, the group’s president and CEO, pinned the increase in optimism on policy changes under President Donald Trump. ‘With a massive tax cut this year, accompanied by significant regulatory relief, we expect very strong growth, millions more jobs, and higher pay for Americans,’ Duggan said in a release. The NFIB’s chief economist, Bill Dunkelberg, also credited the surge in optimism to Trump. ‘The 2016 election was like a dam breaking,’ Dunkelberg said. ‘Small-business owners were waiting for better policies from Washington, suddenly they got them, and the engine of the economy roared back to life.’”

THE WALL STREET JOURNAL: Economists Credit Trump As Tailwind For U.S. Growth, Hiring And Stocks

“Economists surveyed by The Wall Street Journal say President Donald Trump has had generally positive effects on U.S. economic growth, hiring and the performance of the stock market during his first year in office. The professional forecasters also predicted 2018 would see solid growth and a continued decline in the jobless rate. One factor: the tax cuts signed into law by Mr. Trump in December, which most economists say will boost the economy for several years at least.…More than 90% of economists said the tax cuts would increase GDP growth over the next two years, similar to their thinking in earlier months when the details of the legislation were still in flux.”

CNBC: Stocks Finish At Record Highs, S&P 500 Has Best Start To A Year Since 1987

“U.S. equities rose to record highs on Tuesday as investors remained optimistic about the market heading into the corporate earnings season….The index is also enjoying its best start to a year since 1987.”

INVESTOR’S BUSINESS DAILY: Trump Tax-Cut Windfall Mounts: Higher Pay, Lower Utility Bills

“…barely two weeks after passage, roughly 1 million workers have been awarded bonuses that companies attribute to the GOP tax legislation, according to a running list by Americans for Tax Reform, and a few million more are in line to get small cuts in their utility bills. Still others will benefit from bigger corporate matches for 401(k) accounts, as well as a new $15 minimum wage adopted by at least 20 banks, including Wells Fargo (WFC), U.S. Bancorp (USB) and PNC Financial Services (PNC), in the wake of tax cuts.”

WASHINGTON EXAMINER: Utilities Cutting Rates, Cite Benefits Of Trump Tax Reform

“On the heels of companies dishing bonuses of up to $3,000 to over one million workers due to the anticipated benefit of President Trump’s tax reform victory, several major utilities have announced plans to cut rates in a consumer payback related to the lower taxes. Energy suppliers like Washington’s Pepco, Baltimore Gas and Light, Pacific Power, Rocky Mountain Power and Commonwealth Edison said they plan to give hundreds of thousands of customers a rate cut due to the tax reform. The taxpayer advocate group Americans for Tax Reform is pulling together the list of utilities expected to apply for a rate cut as it has for more than 100 major firms planning to pay out bonuses, higher wages and increased benefits due to the expected windfall they plan to receive when corporate taxes are cut.”

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seen at 00:04, 12 January in Whitehouse Press Briefings. Email this to a friend.
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