The Reforming America’s Taxes Equitably (RATE) Coalition – whose affiliated companies represent over 30 million employees in all 50 states – released the following statement on Q2 GDP growth:
“The tremendously strong GDP figure released today by the Bureau of Economic Analysis provides the latest proof that tax reform is helping grow our economy.
“In addition to the more than 1.3 million new jobs created since the Tax Cuts and Jobs Act became law, 660 job-creating businesses of all sizes are passing tax reform savings along to workers in the form of higher wages, 401(k) match increases, and bonuses. Lowering the corporate tax rate has also helped reduce the unemployment rate to the lowest point in half a century – as well as utility bills for nearly ninety million customers across the country, jobless claims, and layoffs. Meanwhile, economic, consumer, housing, manufacturer, and small business confidence levels continue to climb commensurate with our restored competitiveness worldwide.
“By helping our country’s GDP growth surpass 4% for the first time since 2014, tax reform is yet again surpassing expectations.”