BGR Expert: U.S. continues on economic road to recovery under Trump

Boston Herald

September 22, 2020

BY JOSEPH LAI

In less than two months, Americans will choose a President for the next four years. If your vote is based on which candidate can rebuild our economy, the choice is clear: Donald J. Trump.

In fact, our economy is roaring back from the depths of the pandemic, because President Trump’s pro-growth economic agenda over the last four years laid the groundwork.

On September 4, the Department of Labor announced that 1.4 million jobs were created since April. The national unemployment rate fell to 8.4 percent, a 6.3 percent improvement during that period. These results exceeded the expectations of economists and even the most bullish Wall Street analysts. Reflecting confidence in the economy’s recovery, the stock markets have traded at record highs since the nationwide economic closures that began in March.

Under the leadership of President Trump, the Republican Senate and then Republican-controlled House passed the most comprehensive tax cuts and tax reform legislation in a generation. The Tax Cuts and Jobs Act of 2017 reduced taxes for businesses from 35 percent to 21 percent.

It also provided valuable incentives for manufacturers and small businesses – including restaurants – to hire more employees and allowed business owners to write off any investment in new equipment and tools for their businesses.

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