The Trump economy added 312,000 jobs in December, smashing expectations and defying Democrats who said tax reform and regulatory reform are harming the economy. The Department of Labor is also reporting that wages have increased 3.2 percent since December 2017, and 419,000 new workers entered the labor force this past month.
December’s jobs numbers end a year of solid job and economic growth on a high note. Job growth totaled 2.6 million in 2018, beating Trump’s still-impressive 2.2 million job growth in 2017.
This is the 12th jobs report since Trump signed the Republican Tax Cuts and Jobs Act into law.
Since then, the U.S. has had a number of economic successes. The U.S. is the most competitive economy in the world for the first time in a decade, and there are approximately7.1 million job openings available to people looking for work. Small business confidence is at an all time high, and manufacturers have posted their biggest jobs gains in 20 years.
Since they regained control of the House, Democrats have made it a priority to impose a trillion-dollar tax hike on the American people. Democrats have changed the House rules in order to make it easier to raise taxes. Congresswoman Rosa DeLauro (D-CT) and Congresswoman Jan Schakowsky (D-IL) introduced the Medicare for America Act, legislation that would increase taxes on American families and businesses large and small.
This bill would effectively repeal the TCJA by increasing taxes at every level, cutting the child tax credit in half, cut the standard deduction in half, and increase the Alternative Minimum Tax. The bill would also increase taxes on corporations and small business owners, obliterating the gains made in wages and jobs over the past year.
Democrats have also rejected Republican efforts to make the $2,000 child tax credit permanent, as well as the doubled standard deduction. Democrat rejection of these pro-family policies show that they are more interested in their tax-and-spend liberal agenda than promoting the interests of the hardworking people they were elected to serve.
Continued success of the economy depends on more tax reform and deregulation. The new Democrat House majority’s reckless focus on trillion-dollar tax hikes and stifling small businesses with regulation threatens our continued economic success.