Tax Reform is Fueling Economic, Job, and Wage Growth for American Families

Washington, D.C. – The Reforming America’s Taxes Equitably (RATE) Coalition released the following statement on Wednesday’s House Budget Committee Hearing entitled “2017 Tax Law: Impact on the Budget and American Families”:

“There’s a reason why lowering the U.S. corporate tax rate to be more globally competitive was a bipartisan priority for decades – it’s fueling strong U.S. economic growth, job creation, and larger paychecks for hardworking families.

“According to a recent Gallup poll, half of Americans ‘say they are better off today than they were a year ago.’ And even more say they expect to be better off next year than they are right now. The tremendous confidence among Americans – which aligns seamlessly with the historically high optimism among small-business owners, manufacturers, and consumers following the enactment of the Tax Cuts and Jobs Act – is a reflection and result of the economic growth ignited by tax reform.

“The creation of 3 million new jobs, 11 consecutive months of an unemployment rate at or below 4%, wage growth of  3.2% over the past 12 months, and shrinking of utility bills in all 50 states make clear that tax reform has had a positive impact on American families and job creators. Raising taxes would take America off of this pro-growth path.”